Business Services Industry
Allied Irish Banks Acquires Dauphin Deposit Corp.(Originated from The Patriot-News, Harrisburg, Pa.)
Knight Ridder/Tribune Business News, July, 1997 by Dochat, Tom
Jul. 9--Allied Irish Banks of Dublin, Ireland, has completed its acquisition of the 162-year-old Dauphin Deposit Corp.
Dauphin will merge into First Maryland Bancorp, the Baltimore-based U.S. banking subsidiary of Allied Irish.
Eventually, Dauphin and First Maryland's other banking operations, including The York Bank, will be consolidated into one company with a single name. That move is not expected for another 12 to 18 months.
Based on choices made by Dauphin Deposit stockholders, more than 85 percent of Dauphin's shares will be exchanged for Allied Irish's American depository receipts. The remaining 14.6 percent of Dauphin shares will be exchanged for cash at $43 a share.
It had been anticipated that as many as 30...
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