If there were questions whether or not the first first of the large bank and lender deal would get done, it looks like that is history.   Countrywide Financial Corporation (NYSE: CFC) has announced that the results from its special stockholders meeting to vote on the acquisition by Bank of America Corp. (NYSE: BAC) was a stockholder approval.  The holders of more than 69% of the Countrywide common stock approved the stock transaction. Pending conditions, this merger is expected to close on July 1, 2008.

Countrywide shares are up 1.9% at $4.75 today and Bank of America shares are up 2.9% at $27.39 today.  The final buyout price based upon the full 0.1822 share conversion would be at an adjusted $4.99 based on Bank of America’s price.

Jon C. Ogg
June 25, 2008