Clausen relished B of A’s rebuff of a takeover.

Speaking at a San Francisco Chamber of Commerce banquet, BankAmerica Chairman and Chief Executive A. W. Clausen said San Franciscans should “relish the victory” the company won when Los Angeles-based First Interstate Bancorp withdrew its offer for B of A on Feb. 10. He advised his listeners to “get on with the war on those who think the city has lost its stuff.” San Francisco has lost 23 corporate headquarters as a result of mergers and acquisitions in the past six years.