The FDIC is expected to absorb the rest. In return, Citi has granted the FDIC $12 billion in preferred stock and warrants. Wachovia's parent company, Wachovia Corp., will continue to own Wachovia Securities and Evergreen Asset …
Wachovia's suit was filed Friday — three days before a government-brokered deal to transfer its banking assets and some liabilities to another banking giant, Citi for $2.16 billion in stock. "Gainey Corp. has sound business fundamentals, …
pocket and bought $16 million of Wachovia stock. This put him in the same boat with the bank's clobbered investors, and, unlike most CEOs, gave him the ability to say, "I feel your pain."
Wachovia said it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal. But Citigroup demanded that Wachovia abide by the terms of its earlier deal to buy Wachovia's banking operations. The …
With a stock, once pertinent information becomes public ... Wells Fargo (WFC), Bank of America (BAC), Wachovia and Merrill Lynch. Wells Fargo's ranking remained consistently at the top and while Bank of America's was lower, it was …
But then the board changed its tune, offering $7 a share, 79% above Wachovia's Thursday afternoon closing prize. Since then shares in Wachovia have surged premarket by 64%, while Citigroup stock has declined.
Four days later, Wells Fargo stunned Citigroup by announcing that Wachovia's board had agreed to its $13.1 billion all-stock offer. Originally, the deal was valued at $15.1 billion, or $7 a share, but Wells Fargo stock has declined since it …
Wachovia Capital Markets upgraded Johnson Controls Inc to outperform ... which previously had a market perform rating on the stock. Last month, Johnson Controls said it completed 70 percent of the restructuring, announced at the end of …
For a $15.1 billion all-stock deal left on the nightstand, Wachovia allowed Wells Fargo Bank to buy it this morning. But not so fast, says Citigroup, who "now demands that Wachovia abide by the terms of its earlier deal to buy …
Among the three companies whose stock the class bought Nov. 6 was the Wachovia Corp., one of the banks whose shares have been especially volatile in recent weeks because of write-downs from the mortgage-lending crisis. The …