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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 29, 1998
BANKBOSTON CORPORATION
(Exact name of registrant as specified in its charter)
Massachusetts 1-6522 04-2471221
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
100 Federal Street, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (617) 434-2200
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Item 5. Other Events.
On May 29, 1998, BankBoston Corporation (the "Corporation") announced
that it had reached an agreement to acquire the investment banking operations of
Robertson Stephens from BankAmerica Corporation ("BankAmerica"). Under the terms
of the agreement, the Corporation will pay $400 million in cash to BankAmerica
and will establish a retention pool of approximately $400 million, consisting of
$300 million in cash to be paid over four years and $100 million of stock
options to be granted at fair market value upon the closing of the transaction.
The after-tax present value of the transaction is estimated to be approximately
$550 million. The transaction, which is subject to regulatory approvals, is
expected to close in the fourth quarter of 1998.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99 Press release dated May 29, 1998 announcing the Corporation's
agreement to purchase the investment banking operations of
Robertson Stephens from BankAmerica.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANK OF BOSTON CORPORATION
Dated: June 2, 1998 /s/ SUSANNAH M. SWIHART
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Susannah M. Swihart
Executive Vice President, Chief Financial Officer
and Treasurer
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