BANKING & FINANCE - Jan. 9, 1996

Wells Sets Jan. 15 Eligibility Date: Wells Fargo & Co. said shareholders of record as of Jan. 15 will be eligible to vote on its proposed $10.7-billion hostile takeover of First Interstate Bancorp. No date has been set for a shareholders meeting. San Francisco-based Wells Fargo is pursuing its Los Angeles-based rival, which has agreed to be bought by First Bank System Inc. of Minneapolis for $9.8 billion. First Interstate plans a shareholders meeting at which management will ask shareholders to approve the First Bank bid, arguing First Interstate fits better with First Bank than with Wells Fargo. Wells Fargo will ask First Interstate shareholders to vote no. First Interstate said Friday that shareholders of record as of Jan. 10 will be eligible to vote on the First Bank bid.