US - The US$ 200bn Californian Public Employees' Retirement System System (CalPERS) has called upon the Securities and Exchange Commission (SEC) to halt a transaction between Sovereign Bancorp and Banco Santander Central Hispano because shareholders were not allowed to vote on the matter.
Spanish bank Banco Santander is to buy a greater than 20% stake (including treasury shares) in US-based Sovereign Bancorp. According to CalPERS, Sovereign Bancorp reportedly plans to use the procee...
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