Marriages Multiply in Banking Industry: Chase-Chemical Latest
David R. Francis, writer of The Christian Science Monitor. writer Guy Halverson to this article., The Christian Science Monitor
ONE giant merger after another is shaking the United States banking industry. The latest, between Chemical Banking Corp. and Chase Manhattan Corp., was announced yesterday. The combined institution, to take the Chase name, will be the largest bank in the nation with almost $300 billion in assets. That deal dwarfed two other major mergers also announced yesterday: * Cleveland-based National City Corp. has agreed to buy Integra Financial Corp. in Pittsburgh for $2.1 billion. * In St. Louis, Boatmen's Bancshares Inc. announced plans to buy Fourth Financial Corp., a Wichita, Kan.-based institution, for $1.2 billion. "We have too many banks," says Paul Nadler, a professor of …
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Publication information: Article title: Marriages Multiply in Banking Industry: Chase-Chemical Latest. Contributors: David R. Francis, writer of The Christian Science Monitor. writer Guy Halverson to this article. - Author. Newspaper title: The Christian Science Monitor. Publication date: August 29, 1995. Page number: 3. © 2009 The Christian Science Publishing Society. Provided by ProQuest LLC. All Rights Reserved.
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