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Article: Bank of Boston and BayBanks announce closing of acquisition; Customers to realize immediate benefits as foreign ATM network fees disappear for BankBoston customers throughout New England.
- Article from:
- Business Wire
- Article date:
- July 29, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOSTON--(BUSINESS WIRE)--July 29,1996-- Bank of Boston Corp. (NYSE: BKB) and BayBanks Inc. (NMS: BBNK) announced today the completion of their previously announced agreement involving the acquisition of BayBanks by Bank of Boston.
The agreement was announced on Dec. 12, 1995, and received federal regulatory approval on July 10 (Federal Reserve Board) and July 16 (Office of Thrift Supervision), respectively. State approval (Massachusetts Board of Bank Incorporation) was received on July 24. Under the terms of the agreement, BayBanks shareholders receive 2.2 newly issued shares of Bank of Boston stock for every share of BayBanks stock. At the close of business on ...