Wells Fargo & Co. may be gaining the upper hand over First Bank System Inc. in the bitter battle to buy First Interstate Bancorp.

As investors tend to vote with their pocketbooks, the value of Wells stock has gone up while First Bank shares have dropped. As a result, the San Francisco Bank's hostile offer is now worth $9.12 per share more than First Bank's bid.

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.