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Citadel Holding said it has other possible suitors.

August 29, 1985

Chairman Spencer Scott told a shareholders meeting that two companies--one a California savings and loan and the other an out-of-state non-financial firm--have contacted Citadel about a possible acquisition. But Scott also noted that no bids have been received and that no negotiations are under way. Citadel is the parent company of Glendale-based Fidelity Federal Savings & Loan. A proposed merger between Citadel and Great Western Financial has been stalled for several weeks because Salomon Bros., Citadel's investment banker, has not given the proper fairness opinion required by the merger agreement, Scott said.

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