|
"McColl: Wachovia sale is 'body blow' to Charlotte"
The Charlotte Observer (September 29, 2008)
By Rick Rothacker
Charlotte-based Wachovia Corp., saddled with bad loans and a loss of investor confidence that escalated on Friday, said today it is selling its retail bank, wealth management unit and corporate and investment bank to Citigroup Inc.
“Citigroup to Acquire Wachovia Assets,”
The Wall Street Journal (September 29, 2008),
By Marshall Eckblad
Citigroup Inc. agreed to acquire Wachovia Corp.'s banking operations on Monday for $2.1 billion in stock and will assume another $53 billion in Wachovia debt. Federal banking regulators pushed the deal by agreeing to share a portion of future losses that Wachovia's failing mortgage portfolio could generate.
"Citigroup Buys Bank Operations of Wachovia,”
The New York Times, (September 29, 2008),
By Eric Dash and Andrew Ross Sorkin
Citigroup reached an agreement early Monday morning to acquire the banking operations of the Wachovia Corporation after making a daring bid that pulled the deeply troubled company from the brink of collapse.
|
