CBoP will merge with HDFC Bank

Thebullishtrends: As per the latest reports the boards of HDFC Bank(Cmp:Rs.1474) and Bank of Punjab (Cmp:Rs.44.05) have agreed in principle for a merger between the two banks. Since long time market people are waiting for the merger announcement of CBoP. Boards of both the banks of HDFC Bank and CBoP will meet again on February 25 to consider the swap ratio after receipt of the valuation reports and on February 28 to consider the draft scheme of amalgamation. There is a possibility of action in HDFC Bank and Bank of Punjab scrips on Monday.