Wachovia seeking buyer
Bailout, Bank Failures, Jingle Mail, Meltdown, Secondary Market | (0)
From Reuters:
Wachovia Corp has begun early merger talks with several suitors, according to published reports, all of which spurned Washington Mutual Inc prior to that lender's seizure by the U.S. government.
Wachovia, the sixth-largest U.S. bank by assets, began preliminary talks with Citigroup Inc, the New York Times said on Friday, citing people briefed on the matter.
Meanwhile, the Wall Street Journal said Wachovia has entered preliminary merger talks with Citigroup, Banco Santander SA and Wells Fargo & Co, citing a person familiar with the situation. Bank executives are expected to be in New York this weekend for talks, it said.
Wachovia's stock ...