Wachovia shareholders will receive 0.1991 shares of Wells Fargo for every share they had of Wachovia stock. For shareholders this is good news. The plan will bring them about $7 a share. On Thursday the Wachovia shares closed …
In the latest legal fallout from the mortgage implosion, Wells Fargo & Co. has agreed to pay $590 million and accounting firm KPMG has agreed to pay $37 million to settle class ... that bought Wachovia's bonds and preferred stock. …
But what will it do for Wachovia customers and shareholders? Wachovia shareholders aren't in a good spot, however. The company's stock (symbol WB), which closed at $10 on Friday, was halted on the New York Stock Exchange this …
In a deal brokered by the government, Citigroup said it was paying more than $2.16bn (£1.19bn) in stock for Wachovia's banking operations and would be forced to raise $10bn of new capital to facilitate the deal. Mitsubishi UFJ's investment …
The banks already expect to sell as much as $2 billion in deposits. To pay for the takeover of its cross-state rival, First Union will issue two shares of its stock for every Wachovia share. The combined bank will be headquartered in …
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 …
Kovacevich told investors during a conference call the deal with Wachovia is solid. Citigroup dropped 18% to $18.35 on Friday in New York Stock Exchange composite trading, after having its biggest share decline in about 20 years. …
Such reassurances were repeated by defendants throughout the Class Period in order to artificially support Wachovia's …
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 …
Financial pressures are increasing for the owner of the Riviera hotel-casino in Las Vegas and the company's stock ... in technical default on a $245 million line of credit. Riviera Holdings Corp. said it received a notice of technical default