Hibernia Soars In Heavy Trading

Shares of Hibernia Corp. soared 14.3% to $12 Thursday, on volume of two million shares - nine times the daily average.

The New Orleans bank, long considered a prime takeover candidate, said it had no news pending to spark such a movement.

Hibernia did say an institutional shareholder had bought a large block of stock in the morning. Market sources identified the investor as Morgan Keegan & Co.

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