All Posts Tagged With: "wacovia"

Citigroup Concedes Wachovia to Wells Fargo

The much-ballyhooed battle between Citigroup Inc. (C) and Wells Fargo & Co. (WFC) ended with a whimper Friday, as Citi gave up its pursuit of the assets of Wachovia Corp. (WB) – the Charlotte-based lender that was undermined by its broad exposure to subprime assets.

On Sept. 29, Citigroup bid $2.2 billion for Wachovia’s banking operations, but left both Wachovia’s A.G. Edwards brokerage unit and its Evergreen mutual fund family on the table. That left the door open for Wells Fargo to swoop in four days later with a $12 billion bid for all of Wachovia’s operations. That includes a $498 billion…

13Oct2008 | Money Morning | Comments Off | Continued
  • Polls

    How Has The U.S. Recession Affected You?

    View Results

    Loading ... Loading ...
  • Improve the web with Nofollow Reciprocity.