Treasury to Net $5.4M from Valley National warrants

The Treasury Department said on Wednesday that it expects to make a net profit of $5.4 million from its sale of warrants to purchase common stock of Valley National Bancorp (VLY), which  were priced at $2.20 each. The deals are expected to close on May 24. Treasury received the warrants in return for taxpayer assistance under the TARP – MW

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