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Bank of America to Pay $35 Billion for MBNA |
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Written by Administrator
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Friday, 01 July 2005 |
Bank of America is to purchase MBNA, one of the world's largest credit card companies, for $35 billion.A
declaration by the Bank of America reported that the unification of
both parts had been approved by the administrative boards and will be
performed in the quarter of the year right after the completion of the
legal procedures.
{mosgoogle right}The Bank of America informing MBNA shareholders to
pay by cash and share has also announced that 6,000 workers have been
dismissed as a result of the unification. It has also recorded that the
economies to be made by the unification in 2007 with the help of the
purchase of MBNA will be $850 million and the reconstruction cost is to
be $1.25 billion. |
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Last Updated ( Monday, 05 December 2005 )
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