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Feds Give Green Light to Wells Fargo-Wachovia

Citigroup plans to sue over breach of contract, but will not interfere

By the Associated Press

Posted Oct 10, 2008 3:02 PM CDT

(AP) – Federal antitrust regulators cleared Wells Fargo's $11.7 billion acquisition of Wachovia Corp. today, capping a weeklong battle for the Charlotte, NC-based bank. The rapid approval comes a day after Citigroup walked away from its acquisition effort. Citigroup plans to seek $60 billion in damages... Read full story »

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Feds Give Green Light to Wells Fargo-Wachovia

Citigroup plans to sue over breach of contract, but will not interfere

Citigroup • mergers and acquisitions • Wachovia • antitrust • Wells Fargo • SEC • credit crisis • financial crisis

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More Newser Stories

Wells Fargo Buys Wachovia for $15.4B, Trumps Citigroup

After initial no, Bay Area bank buys out troubled lender

Wells, Citigroup Call Truce in Wachovia Battle

Fed brokers cool-off, banks may be working out carve-up deal

Dow Down 700, Hits 4-Year Low

'This is just about fear right now'

Citigroup Sues Wells, Wachovia for $60B

Deal would award $225M in severance, Citi charges—a bailout no-no

Feds Work to Cement Wachovia Deal

Citi and Wells Fargo would each get a piece of the struggling bank

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