CNNMoney (10/03/08); Ellis, David
In a deal being perceived as more favorable both to Wachovia and to federal regulators, the troubled company has agreed to merge with Wells Fargo. Wachovia had a deal in the works to sell its banking operations to Citigroup for $2.2 billion; but the new, estimated $15 billion all-stock offer would fold all of Wachovia's businesses into Wells Fargo. Moreover, unlike the Citi proposal, the merger with Wells Fargo will not involve any financial assistance from the Federal Deposit Insurance Corp.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment