No Predators Need Apply

When BankAmerica Corp. announced a year ago that it would acquire ailing Security Pacific Corp., bankers and Wall Street pundits began counting the days until First Interstate Bancorp. would also fall to some hungry predator. After all, they reasoned, the ailing Los Angeles bank was no match for the growing BofA empire. Then, there was Kohlberg Kravis Roberts & Co.'s 9.8% stake in the bank. The buyout firm, it was thought, would favor a deal.

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