14th-largest US bank OKs takeover by British bank

Crocker National Corporation, parent company of the country's 14th- largest bank, said Tuesday it agreed to sell a 51 precent stake to Midland Bank of London for $820 million. The proposed transaction would would be the biggest foreign takeover of an American bank. Crocker chairman Thomas Wilcox said Midland's proposed investment would give Crocker additional equity capital of $ 495 million.