Business
First Interstate Bancorp on Tuesday raised the value of its offer to buy BankAmerica by $600 million to $3.4 billion, increasing the pressure on BankAmerica’s board of directors to agree to what would be the largest bank merger in U.S. history.
Oct. 29, 1986
Consumer banking giant BankAmerica Corp. on Friday took a cross-country leap to expand its corporate banking business by agreeing to buy Continental Bank Corp. of Chicago for $1.9 billion in cash and stock.
Jan. 29, 1994
BankAmerica Corp. asked First Interstate Bancorp and other potential buyers Monday to back off and give the troubled San Francisco bank time to solve its own problems.
Nov. 4, 1986
BankAmerica plans to attack First Interstate Bancorp’s threatened hostile tender offer as overly conditional and to argue that BankAmerica’s California branch network alone is worth more than the $3.2 billion First Interstate is offering for the whole company, investment banking sources said Tuesday.
Dec. 10, 1986
BankAmerica’s board of directors meets here today to consider an unwanted merger offer from First Interstate Bancorp and to seek a plausible rationale for rejecting it.
Nov. 3, 1986
BankAmerica last week rejected an offer by a group of investors to provide as much as $2 billion in new capital in exchange for sweeping changes at the troubled banking company, it was learned Thursday.
Oct. 17, 1986
BankAmerica named three new directors, one outsider and two BankAmerica executives, bringing the number of board members to 17.
April 19, 1987
First Interstate Bancorp’s sweetened $3.4-billion offer to acquire ailing BankAmerica split Wall Street professionals Wednesday, with some betting that BankAmerica’s board will risk the ire of shareholders and spurn the bid and others saying that the merger is now more likely.
Oct. 30, 1986
First Interstate Bancorp on Monday said it would press its $3.4-billion bid to acquire BankAmerica despite BankAmerica’s request that it withdraw the unwelcome offer.
Nov. 18, 1986
BankAmerica Names Vice Chairman: BankAmerica Corp. and its Bank of America subsidiary said they have named Michael J.
Oct. 4, 1995