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Banc One

BUSINESS
June 30, 1989 | OSWALD JOHNSTON, Times Staff Writer
The Federal Deposit Insurance Corp. disclosed details Thursday of the complex arrangement under which Banc One Corp. of Columbus, Ohio, won a bidding competition to take over 20 failed banks of MCorp of Dallas, a bailout that will cost the federal government about $2 billion and constitute the second-largest bank rescue ever. FDIC Chairman L. William Seidman, describing the arrangement worked out in principle a day earlier, said the FDIC share would involve $300 million in cash outlays and an additional $1.7 billion debt to the Federal Reserve.
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BUSINESS
July 27, 1987 | Associated Press
Banc One Corp. and Milwaukee-based Marine Corp. have agreed to a stock-swap merger valued at about $543.3 million, the two bank holding companies announced Friday. The definitive agreement, if approved by shareholders of both companies and by banking regulators, would create a $22-billion institution with offices in five Midwestern states. Under the definitive agreement with Banc One, each share of Marine stock would be swapped for 2.332 shares of Banc One.
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