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Actionable news in AF: ASTORIA FINANCIAL Corp,

New York City Lender Astoria Financial Said to Explore Sale

Astoria Financial Corp., a New York City-area thrift under pressure from activist investor Basswood Capital Management LLC to boost the share price, is exploring a sale, according to people familiar with the matter. The stock climbed.

The lender, which has 87 branches and a market value of about $1.7 billion, is working with Sandler O’Neill & Partners LP on the potential sale, said the people, who asked not to be identified because the matter hasn’t been made public.

A representative for Astoria Financial had no immediate comment, and Sandler O’Neill didn’t return calls for comment.

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