BANKING
Rival First Interstate Bid Could Come Soon, Sources Say: First Interstate Bancorp may this week attract another bid to rival San Francisco-based Wells Fargo & Co.’s unsolicited takeover offer of $10 billion, a source familiar with the situation told Reuters. Industry sources said investment bankers from Merrill Lynch & Co. were working toward putting together a bid on behalf of Minneapolis-based Norwest Corp., the nation’s 12th-largest banking company. Spokesmen for Norwest, Los Angeles-based First Interstate and Merrill declined to comment. Another source said New York-based banking giant Citicorp may also be considering a bid, but that bank declined comment.
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