Mellon Bank Corp.'s blockbuster 1994 deal for Dreyfus Corp. has chilled the market for bank acquisitions of mutual fund companies, a prominent investment banker said.

A 10% drop in Mellon's stock price since the $1.85 billion deal, along with a continued backlash against the purchase from analysts, is likely to prevent bankers from making similar acquisitions, said Donald H. Putnam, principal of Putnam, Lovell & Thornton, San Francisco.

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