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SHAREHOLDERS BACK NBD, FIRST CHICAGO MERGER

SHARE SHAREHOLDERS BACK NBD, FIRST CHICAGO MERGER

First Chicago Corp. and NBD Bancorp Inc. said Friday a majority of their shareholders have approved their proposed $5.14 billion merger.

A spokesman for First Chicago said holders representing more than 81 percent of the company's shares approved the deal, which will create one of the nation's largest banking companies, with assets of more than $120 billion.NBD, of Detroit, said more than 73 percent of its outstanding shares were voted to approve the deal.

The new corporation will be called First Chicago NBD Corp. First Chicago Chairman Richard L. Thomas will serve as chairman of the new company until his retirement at the annual meeting of the new company in May 1996.

NBD Chairman Verne G. Istock will be president and chief executive of the new company and will assume the additional title of chairman upon Thomas' retirement.