Stocks Rise as Doral (DRL) Considers Dual Proposals
Stocks for the Doral Financial Corp. (NYSE: DRL) skyrocketed over 40 percent today after the company received a proposal from the FBOP Corporation to purchase $610 million of Doral's stock at approximately $1.41 a share, for an 80 percent ownership interest in the company.According to the company's latest press release, this isn't the first proposal the company has received this month. On May 16, 2007, Doral entered into a Stock Purchase Agreement with Doral Holdings Delaware LLC, a newly formed entity in which Bear Stearns Merchant Banks will invest, along with other investors. In the press release, Doral stated that…