Westamerica said merger talks have ended.
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Westamerica Bancorp., based in San Rafael, Calif., said Los Angeles-based Security Pacific Corp. agreed not resume takeover efforts for at least two years. Negotiations had been under way since last month, when Security Pacific agreed to withdraw its application for regulatory approval to attempt to mount a hostile takeover until March 1. Westamerica dropped its lawsuit against Security Pacific as part of that agreement. A spokeswoman for Security Pacific said the company was “unaware” of any agreement that would postpone for two years any pursuit of a Westamerica takeover.
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