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Article: Is North American a Target In Bid War or a Deal Catalyst?(North American Mortgage Co.)
- Article from:
- American Banker
- Article date:
- June 26, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. 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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Will North American Mortgage Co. become the next Great Western Financial?
One analyst who follows North American said he could not rule out a rival bid for the company. Dime Bancorp announced Monday that it had agreed to buy North American in a stock swap.
"This has been a rumored takeover candidate for years. The situation seems to be drawing to a close, but the current price of the stock could be attractive enough to entice someone else to come forward," said Leslie Nelkin, an analyst at Furman Selz.
In 1994, North American announced it was for sale. At that time, NationsBank Corp. and BankBoston Corp. seriously considered buying it, investment ...