TITLE

Citi to Wachovia: Not So Fast

AUTHOR(S)
Schachter, Ken
PUB. DATE
October 2008
SOURCE
Red Herring;10/3/2008, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on a claim by Citigroup that the merger of Wachovia with Wells Fargo violates their exclusivity agreement. A statement issued by Citigroup cited substantial legal rights, which suggested the New York bank could mount a court challenge to the rival deal. To finance the merger deal with Wachovia, which requires shareholder and regulatory approval, Wells Fargo plans to raise $20 billion, primarily through a stock sale.
ACCESSION #
36602945

 

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