Spanish bank to take over Sovereign for $1.9 billion (Baltimore Sun)
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Banco Santander, which owns 25% of Pa.-based thrift, says it will buy the rest for $1.9 billion Banco Santander of Spain said yesterday that it would buy the other three-quarters stake in Sovereign Bancorp that it doesn’t already own for $1.9 billion, extending a wave of consolidation as the banking industry struggles to deal with a load of soured mortgage-related debt.
