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July 15, 1991

CHEMICAL BANKING CORP TO ACQUIRE HANOVER TRUST

By CBR Staff Writer

The news that Chemical Banking Corp is to acquire Manufacturers Hanover Trust in a share exchange that will form the second largest US bank after Citicorp can’t be good news for IBM Corp or the computer industry in general because there must be economies that the combined bank can make in data processing; 6,200 jobs will be disappear immediately.

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