Popular, Inc., the leading financial institution in Puerto Rico, and E-LOAN, Inc., an online consumer direct lender, today announced the early termination by the U.S. Federal Trade Commission of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the review of the proposed acquisition by Popular of E-LOAN. The transaction is subject to customary closing conditions, including the approval of E-LOAN’s stockholders. Popular and E-LOAN anticipate that the transaction will be completed in the fourth quarter of 2005.
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