The 2212 phase formation during annealing of melt textured Bi–2212 (Bi2Sr2CaCu2Ox) was investigated using differential thermal analysis, thermal gravimetric analysis, x-ray diffraction, scanning electron microscopy, energy dispersive x-ray analysis, and high resolution transmission electron microscopy. After zone melting, the material is multiphase consisting of 2212, 2201, Sr1−xCaxCuO2, and the eutectic. The 2212 phase formed is highly perfect with less than 5% intergrowths of 2201 layers; the 2201 phase shows no intergrowth of 2212 at all. In the first period of the annealing, remelting of the eutectic leads to fast oxygen diffusion and a high 2212 formation rate. The 2201 → 2212 transformation proceeds via intermediate states of high defect density. The 2212 grains contain up to 30–70% 2201 intergrowths. Further heat treatments lead to an annihilation of the great majority of intergrown 2201 layers. We propose a model for the formation of 2212 grains with a low planar defect density, based on frequent stacking faults, that allows diffusion of Ca- and Cu-atoms over a short distance. The model provides a schematic description of this solid-state process and correlates it to the characteristic microstructural features of melt-processed Bi–2212.