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M&A Deal Summary

FleetBoston Financial Acquires BankBoston

On March 15, 1999, FleetBoston Financial acquired financial services company BankBoston for 16.0B USD

Acquisition Highlights
  • This is FleetBoston Financial’s 3rd transaction in the Financial Services sector.
  • This is FleetBoston Financial’s largest (disclosed) transaction.
  • This is FleetBoston Financial’s 3rd transaction in the United States.
  • This is FleetBoston Financial’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 1999-03-15
Target BankBoston
Sector Financial Services
Buyer(s) FleetBoston Financial
Deal Type Merger
Deal Value 16.0B USD

Target

BankBoston

Boston, Massachusetts, United States
BankBoston Corporation was a bank serving consumers and businesses. BankBoston offered a variety of banking services and also had operations throughout Latin America.

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Buyer(S) 1

Buyer

FleetBoston Financial

Boston, Massachusetts, United States
Category Company
Founded 1791
Sector Financial Services
Employees47,500
DESCRIPTION

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

DEAL STATS #
Overall 3 of 3
Sector: Financial Services M&A 3 of 3
Type: Merger M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 3 of 3
Year: 1999 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-04-17 Option One Mortgage

Santa Ana, California, United States

Option One Mortgage is a high-risk mortgage lender. The Company was formed in 1992 and is based in Santa Ana, California.

Sell $190M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-06-01 Fleet Mortgage

Columbia, South Carolina, United States

Fleet Mortgage Corp., is a provider in the origination of residential mortgage loans, the company provides mortgages through retail offices in the Northeast, a national network of 1,000 correspondents, wholesale brokers nationwide, and its National Telesales Center.

Sell $660M
Mergr

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