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Citicorp Won’t Bid for Ailing Texas Bank

From Reuters

Citicorp will not bid for MCorp, the big Texas bank that recently filed for assistance from Federal Deposit Insurance Corp., Citicorp Chairman John Reed said.

Citicorp, the nation’s largest banking group, had been considered a likely bidder for the ailing Texas bank, which industry analysts believe will fall prey to an out-of-state institution.


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