After resisting pressure from an activist shareholder for months, Palfed Inc. of Aiken, S.C., parent of Palmetto Federal Savings Bank, announced last week that it is seeking a merger partner.

The news forced a temporary halt Friday in trading of Palfed stock. The price had risen 15% in four days, from $17.75 on the morning of Sept. 8 to $20.375 Thursday afternoon. Palfed was trading this Tuesday afternoon at $21.38.

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