They Came In Search of Better Software. Not by a long shot, if some of the pros buying into the banks are right.
Rumors are that they are in discussions to merge with a major bank.
Valley, at 30 a share, could receive an offer of 45 a share in a stock deal, according to one adviser at a New York investment bank who had tagged Crestar as a takeover target last April. Crestar was valued at a p-e of 22. The pro says Valley's operations complement the potential buyer's. Valley provides a full line of commercial and retail banking services through 97 branches in northern New Jersey. It also runs units for mortgage servicing and asset management.