A group headed by former Treasury Secretary...
A group headed by former Treasury Secretary William E. Simon has acquired 100% of First Interstate of Hawaii, the bank holding company said. Stockholders at a Jan. 23 meeting overwhelmingly approved the Simon group’s $110-a-share offer for acquisition of 60% of the company’s shares that it did not already own. The purchase totaled $33 million. Federal Reserve Board approval of the deal was not obtained until Friday, First Interstate President Donald L. MacGregor Jr. said.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
