Wachovia stock fell 9 cents to $27.30 on the New York Stock Exchange, near its 52-week low of $23.77. (Reporting by Joseph A. Giannone; editing by Jeffrey Benkoe) Our Standards:The Thomson Reuters Trust Principles.
The FDIC is quick to say that Wachovia didn’t fail, yet it is also going to share in the losses. The FDIC will absorb the losses beyond $42 billion, and Citigroupis going to issue preferred stock and warrants to theFDIC. Part of Wachovia will …
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 …
Citigroup is buying the banking operations by paying $2.16 billion in stock to Wachovia and assuming about $53 billion in Wachovia debt. Citigroup also has an agreement with the FDIC to absorb up to $42 billion in losses on a $312 billion …
... also will be eligible for stock-option awards under the company's omnibus stock ownership and long-term incentive plan. Even though the Wells Fargo integration of Wachovia has gone smoothly to date, how the bank was sold remains a hot …
... all-stock purchase of Merrill Lynch & Co., while Wells Fargo & Co. said it has completed its $12.7 billion all-stock purchase of Wachovia Corp. Wells Fargo becomes Florida's -- and Southwest Florida's -- largest bank. The San …
So far, though, SunTrust has been mum about the deal. Despite an initial bump up in Wachovia's stock price after the announcement, its shares remained stable last week. In other words, there's been no sign in the stock price of a …
ATLANTA - SunTrust Banks Inc., vying against rival suitor First Union Corp., said yesterday that its $14.7 billion stock bid for Wachovia Corp. is its final offer. The company said it won't revise the financial terms of its unsolicited May 14 offer of …
Putting aside its proposed takeover by Citigroup with the Government's assistance, troubled banking major Wachovia announced a new deal entailing its merger with rival Wells Fargo in an all-stock transaction worth about USD 15.1 …
NEW YORK (Reuters) - Wachovia Corp WB.N shares fell as much as 10.3 percent on Monday after an analyst said investors should sell the shares of the fourth-largest U.S. bank and avoid the pain likely to result from repairing a …