Barclays Bank Shares Take a Hit after Purchase of US Rival.

From: Knight Ridder/Tribune Business News | Date: October 28, 2003 | Copyright information

Daily Mail, London Knight Ridder/Tribune Business News

Oct. 28--Barclays Bank shares fell as Bank of America said it is buying US rival FleetBoston Financial in a UKpound 27.8 billion deal.

That scuppered hopes of a merger between Barclays and Bank of America, which had been widely rumoured.

Sources close to Barclays confirmed the blow to chief executive Matt Barrett's ambitions for a transatlantic deal.

One said: "There had been a prospect of a hostile or non-hostile bid [involving Bank of America] and this was built into Barclays" share price."

The ...

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