Valley Federal Savings & Loan said it...
Valley Federal Savings & Loan said it has agreed to sell 15% of its stock for $15.2 million to Fisher Bros. of New York, which has an option to buy up to 24.9% of Valley Federal’s stock. Fisher Bros., a real estate development firm, will name two directors to Valley Federal’s board. Analysts said the move would help preclude any unwanted takeover offers for the Van Nuys institution that has $2.9 billion in assets.
