SOV to be acquired

I mentioned this as a target for those companies “who missed out on the Fleet deal” several weeks ago. ------------------------------ Spain’s Banco Santander SA was in advanced talks late Sunday to acquire full control of Sovereign Bancorp Inc., a large thrift-holding company hobbled by souring loans, according to people familiar with the matter.

Banco Santander SA is a very strong bank with a lot of exposure in UK as well

could put FITB, NCC, KEY back in play when mkt opens. I think FITB has the most upside

Santander had tried to takeover SOV previously but failed, so this is not surprising.

you are right, eq analyst, i was just alluding to something I posted on 9/29 -------------------- Posted by: daj224 (IP Logged) [hide posts from this user] Date: September 29, 2008 12:19PM juventurd Wrote: ------------------------------------------------------- > Any thoughts on reasons for the 50%+ drop on SOV > today specifically? rumor santander will nab em. santander alrerady had a chunk of em and makes sense, JP did deal, citi did deal, that leaves WFC/santander looking for easy targets…