Skadden is representing North Fork Bancorporation, Inc. in its acquisition of GreenPoint Financial Corporation, a $23 billion bank holding company, in an all-stock transaction valued at approximately $6.3 billion. Upon completion, North Fork will have over $50 billion in assets and a market capitalization of almost $14 billion, and will become the largest regional bank in the New York metropolitan area and the 16th largest bank holding company in the nation.
Skadden first began representing North Fork in 1988, when it had less than $1 billion in assets. In addition to its GreenPoint Bank subsidiary, GreenPoint owns GreenPoint Mortgage, one of the country’s 10 largest wholesale lenders, with $39 billion in originations in 2003.
