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Article: NY Community Waits As Buyer Fails to Emerge.(New York Community Bancorp Inc.)
- Article from:
- American Banker
- Article date:
- June 10, 2004
- Author:
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A month after telegraphing that it was open to selling to another bank, New York Community Bancorp Inc. is still waiting.
Analysts and investment bankers have said in recent days that any interest in buying the Long Island company, with 141 branches in attractive markets in New York City's suburbs, is tempered by its exposure to interest rate risk. Besides, investment bankers say, many of the most likely bidders are completing sizeable transactions or looking to buy elsewhere.
So it came as a small surprise when word leaked out Wednesday that Sovereign Bancorp of Philadelphia had hired Goldman Sachs Group and Merrill Lynch & Co. to help it go over New ...