A group headed by former Treasury Secretary...
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A group headed by former Treasury Secretary William E. Simon has acquired 100% of First Interstate of Hawaii, the bank holding company said. Stockholders at a Jan. 23 meeting overwhelmingly approved the Simon group’s $110-a-share offer for acquisition of 60% of the company’s shares that it did not already own. The purchase totaled $33 million. Federal Reserve Board approval of the deal was not obtained until Friday, First Interstate President Donald L. MacGregor Jr. said.
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