Dissident board members of Compass Bancshares, led by the company's founder, have launched a bid to put the bank up for sale.

Harry B. Brock Jr., who founded the Birmingham, Ala.-based Compass in 1963 and served as its chairman until 1991, has formed a committee with two other Compass directors to back the election of three new directors who "favor seeking a tax-free stock swap with a much larger company."

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