Found this myself on the MSNBC web page. Does not say what the conversion ratio is.
THE COMBINATION of NationsBank's and BankAmerica is expected to be run for about two years by Hugh McColl,NationsBank's 62-year-old chairman and chief executive, before BankAmerica's 50-year-old chairman and chief executive, David Coulter, takes over, people familiar with the matter said. The combined NationsBank-BankAmerica will reach across the continental U.S. through 24 states and Washington, D.C. with early 5,000 branches and about 15,000 automated-teller machines. NationsBank is based in Charlotte, N.C., and covers the Southeast to Maryland. BankAmerica spreads east from its San Francisco base. Both firms have operations in Texas. The deal would complete the ambitions of Mr. McColl, who has worked to turn NationsBank into one of the nation's largest banks through aggressive acquisitions. He has long sought to link his bank with the Pacific.
Mr. McColl built NationsBank with purchases such as Florida's Barnett Banks Inc. for $15 billion and Boatmen's Bancshares of St.Louis for about $9 billion. NationsBank is currently the third biggest banking company,with $310 billion in assets. The possible deal comes just a week after Citicorp and Travelers Group Inc. announced their own $70 billion-plus merger to form the biggest financial-services concern in the U.S. or abroad. That company, including insurance, as well as brokerage businesses, is expected to have assets of about $700 billion.
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