http://online.wsj.com/article/SB122303190029501925.html?mod=special_page_campaign2008_mostpop
Here we go again...
Wachovia Corp. agreed to sell itself to Wells Fargo & Co. in a $15.4 billion takeover that will require no government assistance, scrapping a federally backed deal with Citigroup Inc. But Citigroup may challenge the deal on legal grounds, and is considering increasing its bid for Wachovia.
The Wells Fargo offer is for $7 a share in stock, based on Thursday's closing price, 79% above where Wachovia shares finished. Wells Fargo also will assume Wachovia's preferred stock and debt.
Here we go again...
Wachovia Corp. agreed to sell itself to Wells Fargo & Co. in a $15.4 billion takeover that will require no government assistance, scrapping a federally backed deal with Citigroup Inc. But Citigroup may challenge the deal on legal grounds, and is considering increasing its bid for Wachovia.
The Wells Fargo offer is for $7 a share in stock, based on Thursday's closing price, 79% above where Wachovia shares finished. Wells Fargo also will assume Wachovia's preferred stock and debt.
