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Wells Fargo, Wachovia Agree to Merge

Post Date: Oct 03, 2008 4:08 a.m.
Ranked website: feeds.feedburner.com (Not Ranked Yet)

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In a move that trumps the previously announced Citigroup acquisition of the banking operations of Wachovia , Wells Fargo and Wachovia this morning have announced "they have signed a definitive agreement for the merger of the two companies including all of Wachovia’s banking operations in a whole company transaction requiring no financial assistance from the Federal Deposit Insurance Corporation (FDIC) or any other government agency." [Update: Wells Fargo has posted a presentation on the deal along with a webcast scheduled for 6:30 AM PDT this morning.]

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