Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bobby beara who wrote (26681)	9/6/1998 7:45:00 PM
From: Joseph G.	Read Replies (1) of 94695

City was to merge with another major bank in Fall of 1929 too. The deal was 0.80 City shares (then over $550), or $360 cash. Directors of both banks approved, the other bank shareholders approved too. Then in Oct City stock went to $300's despite massive buybacks (it went to $200 later that year) - and City had nowhere enough cash to buy the other bank. Surprisingly [-g-] City shareholder meeting rejected the merger ... <<This is the greatest assembly of financial services under one roof since the great depression">>

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