Ford completed the First Nationwide acquisition.
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The auto maker reported that it now owns 81% of First National Financial Corp.’s stock, which it acquired for $32 a share from National Intergroup. The purchase follows approval from the Federal Home Loan Bank Board. The public shareholders--those owning the remaining 19% of the San Francisco-based financial institution--will now receive $32 for each of their shares, Ford said. The $493-million deal was first announced in August.
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