WASHINGTON - Frederick Jaindl, owner of Janindl's Turkey Farm in Orefield, Pa., said he raised his stake in Sovereign Bancorp to 15.88% of common shares outstanding.
In a filing with the Securities and Exchange Commission, Mr. Jaindl said he holds 1,892,870 Sovereign shares, including 200,000 bought on Sept. 24 for $10.63 apiece.
Mr. Jaindl, who holds the shares for investment purposes, said he may acquire additional shares in the company.
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