Business Services Industry
Workers in Connecticut May Lose Jobs as Merger Deals Close.
Knight Ridder/Tribune Business News, April, 2004
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Apr. 2--Merger mania blanketed Connecticut as four deals closed Thursday, bringing new corporate names, forecasts of business growth, and the specter of job cuts to a state that's seen many headquarters come and go.
Bank of America completed its $47 billion stock purchase of FleetBoston Financial Corp., parent of Connecticut's largest bank.
Travelers Property Casualty Corp. merged with The St. Paul Cos. in a stock deal valued at about $17.8 billion.
CIGNA sold its Hartford-based retirement services business to Prudential Financial Inc. for $2.1 billion in cash.
And New Haven Savings Bank became a public company and acquired Savings Bank of Manchester and...
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