Wells Fargo Gets Wachovia as Federal Reserve Signs Off; Lender Launches Pre-Emptive Litigation to Fend Off Damages
October 16, 2008
All that’s left for Wells Fargo to begin the integration of its acquisition of Wachovia is for its own shareholders to sign off on the deal – and face off with Citigroup in an expected lawsuit – after the Federal Reserve gave its approval over the weekend. The Fed moved quickly in its consideration of the deal, “in light of the unusual and exigent circumstances affecting...