M&A Deal Summary

Bank of America Acquires FleetBoston Financial

On April 1, 2004, Bank of America acquired financial services company FleetBoston Financial for 47.0B USD

Acquisition Highlights
  • This is Bank of America’s 2nd transaction in the Financial Services sector.
  • This is Bank of America’s 2nd largest (disclosed) transaction.
  • This is Bank of America’s 2nd transaction in the United States.
  • This is Bank of America’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2004-04-01
Target FleetBoston Financial
Sector Financial Services
Buyer(s) Bank of America
Deal Type Merger
Deal Value 47.0B USD

Target

FleetBoston Financial

Boston, Massachusetts, United States
FleetBoston Financial was a bank and financial services firm created in 1999 by the merger of Fleet Financial Group and BankBoston.

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Buyer(S) 1

Buyer

Bank of America

Charlotte, North Carolina, United States
Category Company
Founded 1784
Sector Financial Services
Employees212,000
Revenue 98.6B USD (2023)
DESCRIPTION
Entrance to Bank of America Center in downtown Charlotte, North Carolina.
Entrance to Bank of America Center in downtown Charlotte, North Carolina.

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 2 of 12
Sector (Financial Services) 2 of 9
Type (Merger) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 2 of 11
Year (2004) 1 of 2
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-14 NationsCredit Commercial - Business Leasing Group

United States

NationsCredit Commercial Corp. - Business Leasing Group specializes in commercial loans under $50,000 with terms ranging from two to six years. Serving over 25 industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-13 National Processing

Louisville, Kentucky, United States

National Processing, Inc. is a provider of merchant credit and debit card processing services. National Processing supports over 700,000 merchant locations, representing one out of every six MasterCard and VISA transactions processed nationally.

Buy $1.4B
Mergr

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