First Interstate: Up For Grabs?

Investors who took George Salem's advice last month certainly made a bundle. He sent clients an alert on Aug. 9 to snap up shares of Chemical Banking and Chase Manhattan in anticipation of a "potential merger." Events bore him out on Aug. 28, when the announcement drove up shares sharply. Salem, senior-vice president at New York investment firm Gerard Klauer Mattison, is now high on another bank: First Interstate Bancorp (I).

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