BankAmerica Shareholders Approve Merger With NationsBank.SAN FRANCISCO--(BUSINESS WIRE)--Sept. 24, 1998--Shareholders of BankAmerica Corporation today approved the proposed merger with NationsBank NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. In 1998, it acquired BankAmerica to become Bank of America. Corporation. Approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 97 percent of the BankAmerica shares voted were voted "for" the merger. NationsBank shareholders also approved the merger during a special meeting of shareholders held simultaneously si·mul·ta·ne·ous adj. 1. Happening, existing, or done at the same time. See Synonyms at contemporary. 2. Mathematics today in Charlotte, N.C. "I am very pleased that the shareholders of BankAmerica Corporation overwhelmingly approved this merger," said David A. Coulter, chairman and chief executive officer of BankAmerica Corporation. "BankAmerica and NationsBank will be positioned more strongly as a combined company than either of us are separately. This is even more true in today's volatile With regard to computer memory, it means "temporary" and not "highly changeable," which is the usual meaning of the word. See volatile memory. 1. (programming) volatile - volatile variable. 2. (storage) volatile - See non-volatile storage. market," said Coulter. "What are strong, separate franchises will be an even stronger, more diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a ." Coulter will be president of the new company. With the approvals given today by shareholders of both companies, the merger is expected to be completed Sept. 30, 1998, with the first day of operations for the new company occurring Oct. 1, 1998. |
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