US Treasury to net $5.42 mln on Valley National warrants

WASHINGTON, May 19 (BestGrowthStock) – The U.S. Treasury Department
said on Wednesday it expects to earn a net $5.42 million on an
auction of Valley National Bancorp (VLY.N: ) stock warrants,
which were priced at $2.20 each.

The Treasury said the sale of the 2.53 million warrants is
expected to close on or about May 24. The minimum bid in the
auction, which was held on Tuesday, was $1.70 per warrant.

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(Reporting by Tim Ahmann, Editing by Chizu Nomiyama)

US Treasury to net $5.42 mln on Valley National warrants