CoreStates Financial Corp., heavily rumored as a takeover target, has hired Credit Suisse First Boston to advise it on its options, according to Bloomberg News.

The Philadelphia banking company turned down a recent offer from Mellon Bank Corp. and has repeatedly said it wants to remain independent. Michael Martin, head of financial institutions at Credit Suisse First Boston, declined comment, as did Linda Stryker, a CoreStates spokeswoman.

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.