FDIC Rejects Bid for Continental Stake: The...
- Share via
FDIC Rejects Bid for Continental Stake: The Federal Deposit Insurance Corp. has rejected a $112-million bid by investors and management for the federal agency’s 26% stake in Continental Bank Corp., the bank firm said. The FDIC acquired all of Chicago-based Continental when the bank failed in 1984 and has slowly been selling it off. The 26% stake is its last chunk. FDIC spokesman Alan Whitney said the FDIC board voted 4-0 to reject the bid because it “was not in the best interests of the FDIC.” He declined to say why.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
