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Bankboston Picks A Plum


In Business This Week

BANKBOSTON PICKS A PLUM

HOT PROPERTY: BANKBOSTON is about to announce its winning bid to buy Robertson Stephens for about $800 million, nearly double what BankAmerica paid for the investment bank a year ago, sources say. The firm went on the block in April after BofA said it would merge with NationsBank. BankBoston edged out Credit Suisse First Boston, PaineWebber, and Dresdner Bank, sources say. The deal would further enrich Robertson Stephens' top execs, who got a $70 million retention pool when they sold out to BofA. Now BofA may have to pay up--and BankBoston may have to pay even more incentives. Robertson Stephens and BankBoston decline comment.EDITED BY KELLEY HOLLAND


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