{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Bank of America buys rival FleetBoston for 47 billion' data-url='/boclips/videos/5c54bb71d8eafeecae125111' data-video-url='/boclips/videos/5c54bb71d8eafeecae125111' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBank of America buys rival FleetBoston for 47 billion\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eNew York, 27 October 20031. FleetBoston CEO Charles Gifford (On left) shaking hands with Bank of America CEO Ken Lewis 2. FleetBoston CEO Charles Gifford pans left to show Bank of America CEO Ken Lewis walking to podium3. FleetBoston CEO...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eNew York, 27 October 2003\u003cbr/\u003e1. FleetBoston CEO Charles Gifford (On left) shaking hands with Bank of America CEO Ken Lewis \u003cbr/\u003e2. FleetBoston CEO Charles Gifford pans left to show Bank of America CEO Ken Lewis walking to podium\u003cbr/\u003e3. FleetBoston CEO Charles Gifford at podium\u003cbr/\u003e4. Cutaway photographers, pans to show wide of room\u003cbr/\u003e5. SOUNDBITE: (English) Ken Lewis, Bank of America CEO: \u003cbr/\u003e\"As investors begin to look at the underlying fundamentals and realise that we know how to do this, both teams know how to do this and it's business that we in fact are doing now they are going to get to like it over time. We expected a short term hit but I expect it to come back because there is real value here for the shareholder.\"\u003cbr/\u003e6. Press conference\u003cbr/\u003e7. Reporters\u003cbr/\u003e8. SOUNDBITE: (English) Charles Gifford,  FleetBoston CEO:\u003cbr/\u003e\"There's a lot of emotion as a bank that has a proud history under itself moves into another company. That emotion I would acknowledge is there, but I will tell you it is truly overcome by the fact that the institution I represent is unquestionably in my mind now part of the best bank in America.\"\u003cbr/\u003e8. Photographers\u003cbr/\u003e9. CEO's taking a question from reporters\u003cbr/\u003e10. Bank of America CEO Ken Lewis\u003cbr/\u003e11. FleetBoston CEO Charles Gifford\u003cbr/\u003e12. Press Conference\u003cbr/\u003e13. SOUNDBITE (English) Patrick  McGeehan, New York Times Business Writer:\u003cbr/\u003e\"This will make them far and away the biggest consumer bank in the country, their total share of all consumer deposits will be more than twice any other bank. Twice as big as any other bank in what we consider consumer banking.\"\u003cbr/\u003e14. CEO's being interviewed after press conference\u003cbr/\u003eFile \u003cbr/\u003eRecent - New York\u003cbr/\u003e15. Various shots of Fleet bank branch in NY\u003cbr/\u003eBank of America has announced it will buy competitor FleetBoston in a 47 (b) billion US dollar deal that will create one of the world's biggest banking companies and the US's largest consumer bank.\u003cbr/\u003eIndustry watchers also see the deal signaling a new round of bank mergers if large regional players conclude their only chance to compete is to join forces with a bigger player.\u003cbr/\u003eThe merger will result in a combined bank with assets totaling over 930 (b) billion US dollars.\u003cbr/\u003eBank of America will pay 45 US dollars a share for Fleet in the all-stock deal, a premium of more than forty percent over the current price.\u003cbr/\u003eThe news has Bank of America shares down nearly ten percent and Fleet shares up almost 25 percent in midday trading on Wall Street.\u003cbr/\u003eBank Of America CEO Ken Lewis told reporters on Monday he expects Bank of America shares to rally in the long term as investors 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