Chase Manhattan Corp.'s credit card business is not for sale, says a top executive, despite speculation that a significant investor might be out to break up the company's various business units.

The investor, Michael F. Price, president of Heine Securities Corp., recently acquired 6.1% of Chase's shares to become its largest stockholder. He has a history of targeting companies viewed as undervalued, and his investment ignited speculation about his intentions with Chase, one of the nation's top 10 credit card banks.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.