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  6. FleetBoston Financial Acquires Shawmut National

M&A Deal Summary

FleetBoston Financial Acquires Shawmut National

On December 1, 1992, FleetBoston Financial acquired financial services company Shawmut National

Acquisition Highlights
  • This is FleetBoston Financial’s 1st transaction in the Financial Services sector.
  • This is FleetBoston Financial’s 1st transaction in the United States.
  • This is FleetBoston Financial’s 1st transaction in Connecticut.

M&A Deal Summary
Date 1992-12-01
Target Shawmut National
Sector Financial Services
Buyer(s) FleetBoston Financial
Deal Type Add-on Acquisition

Target

Shawmut National

Hartford, Connecticut, United States
Shawmut National Corp. is a bank holding company provides financial services.

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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 1 of 3
Sector: Financial Services M&A 1 of 3
Type: Add-on Acquisition M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 1 of 3
Year: 1992 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-01 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.

Buy $120M
Mergr

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