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Bank of America Sues MBIA, Claiming Tender Offer Interference

Bank of America Corp has sued bond insurer MBIA Inc in a New York state court for allegedly interfering with a tender offer to buy MBIA's bonds.

Bank of America Corp has sued bond insurer MBIA Inc in a New York state court for allegedly interfering with a tender offer to buy MBIA's bonds.

On Thursday Bank of America said it had purchased around 40 percent of a senior note in that tender and issued a default notice over an attempt to change the debt's terms.

Copyright 2012 by Reuters. All rights reserved.

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