Low Price and Overhaul Wins 'Buy' for First Union
American Banker, New York, September 15 (09/15/00) Vol. 110, No. 10 p.20; Rieker, Matthias
Chase's deal with J.P. Morgan is mentioned by one
analyst in a piece about how analysts have begun increasing their
ratings on First Union's stock thanks to the stock's low price
and the company's restructuring efforts. The analyst, ING
Barings' Andrew Collins, says some large investment banks could
look to acquire First Union as a response to the Chase buy of
J.P. Morgan; however, another analyst says First Union should not
try to sell itself at this point in its recovery.