Countrywide Financial, Bank Of America Deal Has $160 Mln Termination Fee - Quick Facts

Thursday, January 17, 2008; Posted: 09:38 PM

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(RTTNews) - Countrywide Financial Corp. (CFC | news | PowerRating | PR Charts ), in a filing with the US Securities and Exchange Commission, announced that it may be required to pay Bank of America (BAC | news | PowerRating | PR Charts ) a termination fee equal to $160 million, if such specified circumstances occur.

On January 11, 2008, troubled mortgage lender Countrywide Financial agreed to be acquired by Bank of America for about $4 billion in stock. Under the terms of the agreement, each share of Countrywide will be exchanged for 0.1822 of Bank of America stock.

For full details for CFC click here.

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