Business Case Studies, Mergers, Acquisitions and Takeovers Case Study, Bank of America, Fleetboston Merger

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Mergers, Acquisitions and Takeovers Case Study

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Case Title:

Bank of America : Fleetboston Merger

Publication Year : 2004

Authors: Kanko Ganguly, T Phani Madhav

Industry: Banking, Insurance and Financial Services

Region:USA

Case Code: MAA0004

Teaching Note: Not Available

Structured Assignment: Not Available

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Abstract:
When Bank of America bought FleetBoston in a $47 billion deal, in November 2003, it expanded its presence to the markets in northeastern America where it had lacked presence. Bank of America felt that the deal provided it an opportunity to emerge stronger. Analysts however, felt that the benefits the bank would derive would not justify the 42% premium Bank of America paid to FleetBoston shareholders.

Pedagogical Objectives:

  • To discuss whether Bank of America would be able to realise the synergies of the merger
  • To understand the growth strategies of Bank of America and FleetBoston
  • To know how mergers and acquisitions are changing the face of the US banking industry.

Keywords : Bank of America;Mergers, Acquisitions, Alliances Case Study ; FleetBoston; Merger; Synergies; Impact on industry; Geographical reach; Consolidation

Contents : 
THE MERGER
ANOTHER ROUNDOF CONSOLIDATION?
BofA’s Post-merger Geographical Reach
BofA Retail Banking Facts
The Canary Scandal
FleetBoston’s Financial Performance
Bank of America in Comparison with Peers in USA
A Customer’s Insight

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