Citigroup also will grant the FDIC $12 billion in preferred stock and warrants. The FDIC asserted that Wachovia didn’t fail, that all depositors are protected and there will be no cost to the Deposit Insurance Fund. The deal announced Monday …
First Union acquired Wachovia, but the companies decided to use Wachovia as the name for the combined company. As a result, the stock that used to trade as First Union is now called Wachovia and is traded under Wachovia's ticker …
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 …
Predicting a turnaround, he purchased 1 million shares of Wachovia stock at $16.09 a share on July 22, according to a recent report by Dow Jones Newswires’ David Reynolds. It’s now trading at roughly $6 after closing as low as $1.84 on …
At the time, Wachovia common stock had closed at $38.03 and was paying a very rich 6.31% dividend yield. The …
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 …
Wachovia Corp.'s battered shares fell further Friday amid speculation that record losses tied to bad home loans may force the bank into a merger. The stock of Charlotte-based Wachovia plunged $3.70, or 27 percent, to close at $10, after …
In what is being billed as a merger of equals, Charlotte, N.C.-based First Union is exchanging two of its shares for each share of Wachovia stock. The new company will take the Wachovia name, and will be the fourth-largest bank in the …
Already buckling under the weight of billions in bad mortgages and seeing its stock price crater, Wachovia faces another potential headache should Newark-based Pru sell back its stake as a part of a joint-venture deal struck in 2003. Under …
Wachovia value Wells Fargo's stock swap values Charlotte-based Wachovia at $US7 a share and includes the whole company, without any aid from the US, the banks said in a statement. Citigroup's bid worked out to about $US1 share, …