Even though Commercial Federal Corp. plans to retain not one, but two, outside advisors, don’t look for a takeout of the $1.2 billion market cap bank any time soon. Omaha-based savings and loan Commercial said it would hire an investment bank in exchange for 8.6% shareholder Franklin Mutual Advisors dropping its contest for another spot on the board. The agreement was made public in a March 8 13D. Franklin, which has pushed for an auction of the company in the past, has two members on the nine-member staggered board.
To read the entire story, you must be logged in.
Please log in now or register with us.
