	schwab completes purchase of schwab and co charles schwab announced the completion of the mln dlr purchase from bankamerica co of charles schwab and co inc and its holding company charles schwab corp the leveraged buyout is being financed by a syndicate of seven banks led by the security pacific national bank unit of security pacific corp spc the announcement said charles schwab and co is the nation s largest discount brokerage firm the schwab announcement said bankamerica received mln dlrs in cash mln of pct senior subordinated debentures mln dlrs of nine pct junior subordinated debentures and the right to receive pct of the appreciated value of the common equity of the new company over a maximum period of eight years security pacific also uired a stock appreciation right equal to pct of the value of the new company s fully diluted common stock schwab said the right is exchangeable into warrants upon transfer to a security pacific non affiliate schwab said bankamerica originally uired schwab in for mln dlrs worth of bankamerica common stock the sale of the profitable discount brokerage firm back to charles schwab was aimed at raising capital and was seen by banking analysts as a means of heading off a hostile takeover attempt by first interstate bancorp i reuter 
