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Rating:FleetBoston in Play? Not Rated 4.0 Email Routing List Email & Route  Print Print
Thursday, August 1, 2002

FleetBoston in Play?

by: Sean Hanna, Editor in Chief

If rumors are to be believed, then the fund folks at Liberty may not be done unpacking. Shares of FleetBoston stock jumped 10.5 percent yesterday on rumors that the bank is in play as a takeover target. The purported interested party is Citigroup, according to a published report in the Boston Globe.

The rumors were spurred by Sandy Weil's cancellation of a scheduled appearance at a Merrill Lynch conference in Boston. The stock first started rising on Monday.

FleetBoston acquired Liberty Funds last year. Since then, fund executives have been busy integrating the numerous fund brands brought together by the purchase.

Citigroup, of course, owns the Salomon Brothers brand and as well as the Citibank and Travelers monikers. 

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