Wachovia Accepts Wells Fargo Deal After Talks With Citigroup |
http://www.marketwatch.com/news/story/wachovia-accepts-wells-fargo-deal/story.aspx?guid={2DC807F5-2B6B-41D4-AC2F-E53AB58AFADF}&dateid=39724.3021222569-939732479
By Michelle Donley
NEW YORK (MarketWatch) – Wachovia Corp. (WB)
Wells Fargo WFC 35.16, -1.54, -4.2%) presented Wachovia an offer Thursday night to buy it as an intact company without government help. In the stock-for-stock deal, each share of Wachovia common stock will be exchanged for 0.1991 share of Wells Fargo common stock, which represents a value of $7 a share, based on Thursday’s closing price of Wells Fargo stock. Wachovia said before receiving the bid, it had been discussing an FDIC-supervised deal with Citigroup Inc. (C
Tags: Citigroup, FDIC, Wachovia, Wells Fargo