Saturday, October 4, 2008
Wells Fargo, Citi Battle Over Wachovia
Wachovia says that it has agreed to be acquired by Wells Fargo in an all-stock deal worth $15.1 billion. But reports of a possible lawsuit begin swirling, since the deal would end an agreement that Citigroup announced earlier this week to buy Wachovia's banking operations with help from the FDIC.
Our financial industry is in a decifit.
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