Scattered political and shareholder opposition to First Union Corp.'s deal to buy CoreStates Financial Corp. is unlikely to stop the merger, but criticism of the $16.6 billion acquisition has grown louder.

City politicians in Philadelphia, where CoreStates is based, are threatening to blacklist First Union as a handler of city funds. They have also called for hearings to investigate the deal.

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.