New York, October 10, 2008 -- Moody's Investors Service upgraded its preferred stock rating on Wachovia Corporation to A3 from Ba3. Also, it changed the direction of Moody's review of Wachovia's long-term debt and deposit ratings from …
Wells Fargo said it will acquire all of Wachovia's businesses, including its debt in a "stock for stock" transaction. As part of the deal, Wells Fargo, which is based in San Francisco, would gain control of all outstanding shares of Wachovia's …
Say goodbye to Republic Security Bank. On Monday, the West Palm Beach institution said it would be sold to Wachovia Bank for $344 million in stock. Republic Security, with assets of $3.4 billion and 99 branches, was the …
Four days later, San Francisco-based Wells Fargo & Co. stunned Citigroup by announcing that Wachovia's board had agreed to its $14.8 billion all-stock offer. Originally, the deal was valued at $15.1 billion, or $7 a share, but Wells Fargo …
The Wachovia name would disappear. Under the Wells Fargo merger, the bank would acquire all of Wachovia in a stock swap. Wachovia's shareholders would receive 0.1991 shares of Wells Fargo common stock for every share of …
Revenue growth of 20% to $8.69b topped analysts' average estimate of $8.4b. Although Wachovia's stock has struggled on concerns of mortgage market weakness related to its Golden West Financial takeover last year, the latter boosted …
While regulators said the Charlotte-based bank hadn't failed, Wachovia will lose its biggest unit and investors will get only about $1 a share for the bank, whose stock topped $59 in April 2006. All depositors will be protected, according to the …
World stock markets were narrowly mixed in subdued overnight trading ... In those cases where capital (or more specifically, confidence) was in doubt, such as Citigroup (NYSE:C) and Wachovia, the institutions failed. The Street …
Democracy goes only so far in a proxy fight. The voter who matters most here is not the average shareholder who might hold a couple of hundred shares of Wachovia stock. Instead, when two of America's biggest banks finish their frenetic …
Dear Mr. Berko: My broker wants me to buy 300 shares ($10,000 worth) of Wachovia and I’m not really comfortable with this recommendation. Frankly, I’m not really comfortable with my broker. He said you know each other “pretty good” …