Advertisement

Bid for MCorp Reported: A Houston bank...

Bid for MCorp Reported: A Houston bank holding company that was saved with the help of federal regulators last year is now bidding to acquire troubled MCorp, the Dallas Morning News said. The paper, quoting anonymous industry sources, said A. Robert Abboud, chairman of First City Bancorporation of Texas Inc., has approached federal regulators about bidding to acquire Dallas-based MCorp. Abboud is said to be working on a bid with the New York investment firm Donaldson, Lufkin & Jenrette Inc., which helped raise the $500 million last April that allowed him to take over Houston-based First City. That deal included $1 billion in FDIC aid.


Advertisement