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MBIA Says BofA Bond Offer an 'Outrageous' Attempt to Interfere in Company Affairs

MBIA Inc shares declined after Bank of America Corp offered to buy some of its bonds, which could thwart the insurer's effort to change their terms and avoid what it has called a possible default.

By Reuters | Updated on November 14, 2012

(Reuters) – MBIA Inc shares declined after Bank of America Corp offered to buy some of its bonds, which could thwart the insurer’s effort to change their terms and avoid what it has called a possible default.

MBIA shares fell 19 percent, or $1.60, to $6.81 on Tuesday. Bank of America shares fell 0.6 percent to $9.33.

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