Mercantile Bancorp plans to an-nounce a major restructuring in the coming weeks, but some observers and alumni say it may not be enough for the St. Louis company to stave off a takeover.

Last week, rumors that the $30 billion-asset company was on the block drove its stock price up 6.2%. On Friday, as the Standard & Poor's bank index fell 1.4%, Mercantile shares gained 62.5 cents, to close at $47.125. Analysts say Mercantile could sell for as much as $58 to $64 a share.

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