Banks: Continental Waits at the Altar

Soon after Chicago's Continental Illinois Bank came close to collapsing last month, Wall Street matchmakers went to work trying to find it a strong partner. But after taking a close look at Continental's books, the potential suitors have been shying away. New York's Chemical Bank and First National Bank of Chicago both said last week that they were no longer interested in acquiring Continental. Uncertainty about the bank's future, said Continental Chairman David Taylor, has left "our employees hanging by their thumbs."

Chicago was abuzz, though, with speculation that a deal was in the works. In a front-page story, the...

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