WYOMISSING, Pa. -- Sovereign Bancorp Inc. said Tuesday that it has renewed acquisition discussions with Flagship Financial Corp. of Jenkintown, Pa.

Sovereign, which operates in Princeton, N.J., and five southeastern Pennsylvania counties but not Philadelphia, has proposed paying $11.50 for each share of Flagship's common stock.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.