B of A Bids for New England...
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B of A Bids for New England Bank: The San Francisco bank submitted a bid to the Federal Deposit Insurance Corp. for the failed Bank of New England. Other bidders include Bank of Boston, a partnership of Rhode Island-based Fleet/Norstar Financial, the Kohlberg Kravis Roberts & Co. investment company and, unexpectedly, a group of investors led by Marco DeSalle of Maine, who reportedly were trying to persuade Maine author Stephen King to join them. The FDIC said it will announce the winning bid on April 16. BankAmerica’s chances to buy Bank of New England, which has banks in Massachusetts, Connecticut and Maine, grew considerably this week when Banc One of Ohio dropped out of the competition.
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