NationsBank Corp. said Friday that it would buy a 16% stake in MNC Financial Inc. that gives it the option of acquiring the ailing Baltimore company within five years.

Wall Street hailed the $200 million deal as a bold strategic move with limited risk.

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.