Frightened financiers

Hage, D.; Collins, S.
July 1991
U.S. News & World Report;7/29/91, Vol. 111 Issue 5, p40
Considers the recent merger between John F. McGillicuddy's Manufacturers Hanover and rival Walter Shipley's Chemical Banking, in a $2.3 billion stock swap that hopes to create one thriving bank out of two that were in trouble. A spate of anticipated mergers could ease the nation's lingering credit crunch; Consolidation doesn't always work; Cutting costs through mergers; Long term profitability; Small banks. INSET: Another victim for real estate.;Banks in a bind..


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