Citigroup: Wachovia deal is still on

Citigroup: Wachovia deal is still on

There are 3 comments on the Asheville Citizen-Times story from Oct 1, 2008, titled Citigroup: Wachovia deal is still on. In it, Asheville Citizen-Times reports that:

Comments on Topix forums : NEW YORK Citigroup Inc. insisted Tuesday that it remains committed to its acquisition of Wachovia Corp., as the failure of the government's financial rescue plan cast doubt on the ...

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Since: Aug 07

Asheville, NC

#1 Oct 3, 2008
NEWS FLASH:
Wells Fargo buys Wachovia
Citi sux

Maiden, NC

#2 Oct 3, 2008
SAN FRANCISCO (Oct. 3)- In an abrupt change of course, Wachovia Corp. said Friday it will be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, wiping out Wachovia's previous plan to sell its banking operations to rival suitor Citigroup Inc.
Financial Industry in Turmoil
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Wachovia's agreement to merge with Wells Fargo comes amid a turbulent time for banks and financial firms during an ongoing credit crisis that Washington is trying desperately to solve.
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A key difference is that the Wachovia deal will be done without government assistance, while the Citigroup deal would have been done with the help of the Federal Deposit Insurance Corp.
The Wachovia-Wells deal, announced Friday, comes in a turbulent time for banks and financial firms as they grapple with the ongoing credit crisis, which led to the recent bankruptcy of Lehman Brothers Holdings Inc. and the failure of Washington Mutual Inc.
Wachovia shareholders will receive 0.1991 shares of Wells Fargo for every share of Charlotte, North Carolina-based Wachovia stock they own, valuing Wachovia at about $7 per share.

Since: Oct 07

Greer, SC

#3 Oct 3, 2008
I'm glad I don't have to do the paperwork on this mess.

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