Community First Bankshares, one of the most acquisitive banks in the Midwest, has adopted a shareholder rights plan to guard against unwelcome suitors.

The $1.4 billion-asset company in Fargo, N.D., said this week that it is not aware of any overtures to acquire it, but, "We felt that our stock was undervalued relative to the market," explained Donald R. Mengedoth, president and chief executive officer.

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