banks through a modified stock swap deal. Instead of the original 1.6 shares Banco de Oro would swap for, it would swap 1.8 shares for every Equitable PCI share. At Banco de Oro's closing price of P44.50 as of that Monday with a meeting with senior accounts officer (PCI)Madam.B.A., the deal would be valued at about P80.10 for every share, well above Equitable PCI's closing price then of P72.50. The deal has since been approved not only by their respective boards of directors, but also by the Securities and Exchange Commission. It will be submitted to shareholders for approval in December. When approved, while Banco de Oro will remain the surviving entity; the merged bank was, for a time, named Banco de Oro-EPCI, Inc. The sale of GSIS shares in Equitable PCI was approved by the Bangko Sentral's Monetary Board on November 28. Separate merger approval meetings of both Banco de Oro and Equitable PCI Bank shareholders have been scheduled for December 27, with a final merger possibly taking place starting January 2007. "The merger of equals" - Banco de Oro Unibank, Inc. On December 27, 2006, Banco de Oro shareholders approved the merger with Equitable PCI Bank. Equitable PCI Bank shareholders also approved the merger the same day. In order for the merger to take effect, approval from both the Bangko Sentral and the Securities and Exchange Commission is required, which was obtained in early 2007. The physical merger of both banks is set to take place before the end of the first half of 2007. Regulatory approval from the Bangko Sentral was granted on April 25, 2007. At present, as of March 19, 2007, Banco de Oro and Equitable PCI Bank cardholders (ATM and debit cards) may access each other's ATM networks free of charge. ATM cardholders from both banks can avail of each other's withdrawal, balance inquiry and cash advance services free of charge. This theoretically increases Banco de Oro's ATM network to 1,200 ATMs nationwide. Banco de Oro and Equitable PCI Bank have also similarly synchronized their home and automobile loan products. On May 31, 2007, trading of Banco de Oro and Equitable PCI Bank shares were suspended, with Equitable PCI Bank shares being delisted from the PSE on June 4, 2007. All 727 million shares of Equitable PCI Bank were delisted in the process, with 1.3 billion Banco de Oro shares, each having a par