Search for: "WACHOVIA BANK/WELLS FARGO"
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13 Oct 2008, 1:57 am
The Federal Reserve on Sunday gave its stamp of approval to the takeover of Wachovia by Wells Fargo, which had battled Citigroup for ownership of the wounded bank. [read post]
12 Oct 2008, 2:20 pm
[JURIST] The US Federal Reserve Board [official website] Sunday approved [press release] a controversial merger between Wachovia bank and Wells Fargo that had prompted a legal challenge from jilted corporate suitor Citigroup [corporate websites]. [read post]
11 Oct 2008, 8:27 am
Even now worth reading to understand the strategy of a lawsuit.Then there was this from the ABA Journal: Judge Holds Weekend Court at Home Over Wachovia Buyout Tussle.Meanwhile, yesterday's New York Times reports Wells Fargo Wins the War for Wachovia. [read post]
10 Oct 2008, 5:57 pm
" Citigroup states that it "remains willing" to complete its previously announced FDIC-assisted acquisition of Wachovia's banking operations, but has "decided not to ask that the Wells Fargo-Wachovia merger be enjoined. [read post]
10 Oct 2008, 2:11 pm
• Citigroup and Wells Fargo filed legal actions against each other over rights to acquire Wachovia. [read post]
10 Oct 2008, 12:58 pm
[15] Press Release, Wells Fargo, Wells Fargo's Merger with Wachovia to Proceed as Whole Company Transaction with all of Wachovia's Banking Operations (Oct. 9, 2008) [read post]
10 Oct 2008, 12:19 pm
Four days later, Wells Fargo jumped the deal, announcing a merger agreement signed by both boards for Wells Fargo to acquire all of Wachovia. [read post]
10 Oct 2008, 11:30 am
One of the biggest showdowns on Wall Street ended with a whimper Thursday when Citigroup walked away from efforts to block a deal between Wachovia and Wells Fargo, paving the way for a merger that would concentrate power within the American banking industry to just a few firms. [read post]
10 Oct 2008, 9:46 am
Citibank has announced that it is ending negotiations with Wells Fargo to divide the assets of Wachovia. [read post]
9 Oct 2008, 9:23 pm
Citigroup said late Thursday that it will not try to block a merger between Wachovia and Wells Fargo, but that it would continue to seek $60 billion in legal damages after the Charlotte-based bank spurned a $2.2 billion deal proffered by Citigroup at the government’s behest. [read post]
9 Oct 2008, 7:20 pm
According to an announcement announced this afternoon, Citigroup has dropped out of the settlement talks with Wachovia and Wells Fargo, and will not challenge the Wachovia, Wells Fargo merger. [read post]
9 Oct 2008, 11:16 am
Citigroup and Wells Fargo, the two banks vying for control of the Wachovia Corporation, are negotiating a compromise that would hand the bulk of the troubled bank to Wells Fargo, according to The New York Times’s Eric Dash. [read post]
9 Oct 2008, 9:17 am
In early October, after advising Wachovia in an agreement to sell part of itself to Citigroup, Cohen advised the Wachovia board that its duty to shareholders required it to accept a competing bid from Wells Fargo, even if doing so violated an exclusivity agreement with Citi. [read post]
8 Oct 2008, 1:15 pm
Later in the week, Wells Fargo jumped into the bidding, and reached agreement with Wachovia whereby Wachovia would be sold in its entirety (the banking operations, as well as its asset-management and brokerage arms) to Wells Fargo for $15.1 billion. [read post]
8 Oct 2008, 12:35 pm
Citigroup is looking for potential partners in its bid for Wachovia, seeking to wrest the upper hand from Wachovia’s other suitor Wells Fargo , The Wall Street Journal said, citing people familiar with the matter. [read post]
7 Oct 2008, 12:16 pm
Citigroup, Wells Fargo and Wachovia are extending their cease-fire until Friday morning, suspending the litigation battle for the second time this week over who gets to buy Wachovia, the banks announced Wednesday. [read post]
7 Oct 2008, 11:16 am
More on Wells Fargo's Exclusivity Agreement Yesterday, John Jenkins blogged on the battle between Citigroup and Wells Fargo for Wachovia. [read post]
7 Oct 2008, 9:06 am
Citigroup sued Wachovia and Wells Fargo in state court to enjoin them and order specific performance of the agreement, while Wachovia filed in federal court for a declaratory judgment affirming the enforceability of the Wells Fargo deal. [read post]
7 Oct 2008, 12:51 am
Todd Smith in his Texas Appellate Law Blog Bank of America taken to Woodshed over Mortgages - Orange County lawyer Aaron Morris on his Business Law Report Marketing a Law Firm is About Forging Connections - Small business coach Stephen Fairley of The Rainmaker Institute in The Rainmaker Blog The Battle Between Citigroup And Wells Fargo For Wachovia Comes To North Carolina - Greensboro attorney Mack Sperling of Brooks Pierce at his blog, the North… [read post]
6 Oct 2008, 11:23 pm
Briefly: Before September 29th, Both Wells Fargo and Citigroup were in negotiations to acquire either all of Wachovia's stock (Wells Fargo) or only Wachovia's banking subsidiaries (Citigroup). [read post]
