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Pennsylvania's Dauphin Deposit Corp. Admits Suitors Seek Acquisition.(Originated from The Patriot-News, Harrisburg, Pa.)
Knight Ridder/Tribune Business News, January, 1997 by Dochat, Tom
Jan. 21--Dauphin Deposit Corp. said yesterday it was in talks that may lead to its acquisition, setting off a flurry of speculation and a belief that a formal purchase agreement might be imminent.
The company halted trading of its surging stock shortly after noon yesterday before issuing its announcement, and activity never resumed. The stock closed at $35.50, up 7 percent for the day on heavy trading volume of 175,700 shares.
Officials from the bank refused to comment further.
Analysts were not so reticent. Names mentioned as possible suitors were First Union Corp. of Charlotte, N.C.; Mellon Bank Corp. of Pittsburgh; CoreStates Financial Corp. of Philadelphia; and Allied Irish Banks plc.
Analysts speculated that the...
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