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The Value Added By Bank Acquisitions: Lessons From Wells Fargo'S Acquisition Of First Interstate

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  • Joel F. Houston
  • Michael D. Ryngaert
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    Abstract

    Wells Fargo's recent acquisition of First Interstate Bancorp represents one of the relatively uncommon cases in which the economic values of both the acquiring and acquired banks increased sharply upon announcement of the deal. The transaction is also one of the few cases where the bidder in a major bank acquisition chose purchase instead of pooling accounting-despite the fact that the deal was openly hostile and that Wells Fargo had to fight off a competing bid from First Bank Systems. 1996 Morgan Stanley.

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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1745-6622.1996.tb00116.x
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    Bibliographic Info

    Article provided by Morgan Stanley in its journal Journal of Applied Corporate Finance.

    Volume (Year): 9 (1996)
    Issue (Month): 2 ()
    Pages: 74-82

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    Handle: RePEc:bla:jacrfn:v:9:y:1996:i:2:p:74-82

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    Web page: http://www.blackwellpublishing.com/journal.asp?ref=1078-1196

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    Cited by:
    1. Allen N. Berger & Rebecca S. Demsetz & Philip E. Strahan, 1998. "The consolidation of the financial services industry: causes, consequences, and implications for the future," Finance and Economics Discussion Series 1998-46, Board of Governors of the Federal Reserve System (U.S.).
    2. Berger, Allen N., 2003. "The efficiency effects of a single market for financial services in Europe," European Journal of Operational Research, Elsevier, vol. 150(3), pages 466-481, November.

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