BANKING & FINANCE - Feb. 15, 1994
From Times Staff and Wire Reports
CalFed Seeks Approval for Offering: Sending a clear and final signal that it is spurning Golden West Financial’s merger offer, California Federal Bank sought regulatory permission to go ahead with its plan to raise $300 million in preferred stock and rights offerings to finance its “hold and fix” restructuring strategy. The S&L;, which expects to receive the proceeds from the offerings by the end of March, is also selling its Florida branches to raise capital.
