First Republic Bank will acquire the remaining 82% stake in...

First Republic Bank will acquire the remaining 82% stake in convertible bond manager Froley, Revy Investment. Terms were not disclosed, said David Johnson, COO of Froley, Revy. The deal is expected to close within 90 days. The bank acquired 18% of Froley, Revy in January 2000 and had an option to acquire the remainder of the firm within three years. Top management of Froley, Revy will retain an economic interest in the firm through a deferred five-year payout and profit sharing.