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Article: Fleet rises on rumors of NationsBank deal. (Fleet Financial Group) (Brief Article)

Article from:
American Banker
Article date:
September 22, 1993
Author:
Copyright

Rumors that Fleet Financial Group might be acquired by NationsBank Corp. prompted Fleet shares to surge $1.375 to $33.875 in heavy trading despite a sharp selloff in the stock market.

Dan Dorfman of CNBC, a business news cable television channel, said First Boston Corp. banking analyst Thomas Hanley had "informed his sales force" of the possible deal and was "gung ho" about it.

Both banks declined to comment about the rumors.

NationsBank is based in Charlotte, N.C. and has assets of $122.8 billion. Fleet is located in Providence, R.I., and holds assets of $45.3 billion.

Deal Called |Double'

Asked later by American Banker ...

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