International Business News - Wachovia http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Investors appeared to be waiting on the sidelines Tuesday for a compromise to be reached between Citigroup and Wells Fargo over their battle for Wachovia, after the banks agreed to put several legal proceedings on hold until Wednesday. http://www.ibtimes.com/articles/20081007/ahead-of-the-bell-legal-fight-for-wachovia-halted.htm Tue, 07 Oct 2008 10:26:47 EDT Citigroup Inc. said Monday it has filed a complaint in New York Supreme Court against Wachovia, Wells Fargo and the directors of both companies seeking more than $60 billion in damages for interfering with the bank's planned takeover of Wachovia's banking operations. http://www.ibtimes.com/articles/20081006/citigroup-sues-wachovia-wells-fargo-for-60b.htm Mon, 06 Oct 2008 15:39:20 EDT Wachovia, Citigroup and Wells Fargo on Monday agreed to a standstill of all formal litigation activity--a sign that the banks and the Federal Reserve are working feverishly to reach an agreement over the fate of Wachovia. http://www.ibtimes.com/articles/20081006/citigroup-sues-wachovia-wells-fargo-for-60b.htm Mon, 06 Oct 2008 17:41:06 EDT Federal Reserve officials have been pushing for Citigroup Inc. and Wells Fargo & Co. to reach a compromise over Wachovia Corp., according to a media report. http://www.ibtimes.com/articles/20081006/report-fed-pushes-citi-wells-to-split-wachovia.htm Mon, 06 Oct 2008 08:53:30 EDT A county court in North Carolina late Sunday ruled against Citigroup Inc. in its fight against Wells Fargo & Co. to acquire Wachovia Corp. It is the third court to become involved with the battle. http://www.ibtimes.com/articles/20081006/ahead-of-the-bell-wachovia-fight-continues.htm Mon, 06 Oct 2008 07:59:01 EDT The battle for control of troubled bank Wachovia tilted toward Wells Fargo Sunday as a state appeals court blocked a lower court ruling that had favored rival bidder Citigroup. http://www.ibtimes.com/data/articleimgs/146104-wells-fargo-wachovia.jpg http://www.ibtimes.com/articles/20081006/court-tilts-wachovia-fight-toward-wells-fargo.htm http://www.ibtimes.com/articles/20081006/court-tilts-wachovia-fight-toward-wells-fargo.htm Mon, 06 Oct 2008 07:44:51 EDT Once hailed for running their savings-and-loan company like an endearing mom-and-pop shop, Herb and Marion Sandler are now being vilified as ruthless home lenders who helped destroy Wachovia Corp. and contributed to the financial decay that led to the U.S. government's $700 billion rescue plan to buy rotten mortgages. http://www.ibtimes.com/data/articleimgs/145914-wachovia-sandler.jpg http://www.ibtimes.com/articles/20081005/ex-ceo-of-s-l-bought-by-wachovia-defends-record.htm http://www.ibtimes.com/articles/20081005/ex-ceo-of-s-l-bought-by-wachovia-defends-record.htm Sun, 05 Oct 2008 21:41:35 EDT The battle for control of troubled bank Wachovia tilted toward Wells Fargo Sunday as a state appeals court blocked a lower court ruling that had favored rival bidder Citigroup. http://www.ibtimes.com/data/articleimgs/145926-wells-fargo-wachovia.jpg http://www.ibtimes.com/articles/20081005/judge-blocks-wells-fargo-from-acquiring-wachovia.htm http://www.ibtimes.com/articles/20081005/judge-blocks-wells-fargo-from-acquiring-wachovia.htm Sun, 05 Oct 2008 22:22:57 EDT A battle broke out Friday for control of Wachovia, as Wells Fargo agreed to pay $14.8 billion for the struggling bank, while Citigroup and federal regulators insisted that Citi's earlier and lower-priced takeover offer go forward. http://www.ibtimes.com/data/articleimgs/145020-wells-fargo-wachovia.jpg http://www.ibtimes.com/articles/20081004/wells-fargo-agrees-to-buy-wachovia-citi-objects.htm http://www.ibtimes.com/articles/20081004/wells-fargo-agrees-to-buy-wachovia-citi-objects.htm Sat, 04 Oct 2008 03:22:15 EDT New leeway the IRS has granted to banks seeking to write-off losses likely inspired the nearly $13 billion premium Wells Fargo & Co. agreed to pay for Wachovia Corp. above Citigroup Inc.'s previous offer. http://www.ibtimes.com/articles/20081003/tax-ruling-may-have-aided-wells-bid-for-wachovia.htm Fri, 03 Oct 2008 18:49:15 EDT First it was Citigroup. Then Wells Fargo. As two banks still standing amid a historic economic meltdown clash over the once strong Wachovia, employees and city leaders are certain of only one thing: It's been a rough week on Tryon Street. http://www.ibtimes.com/articles/20081003/nervous-charlotte-ponders-the-future-of-wachovia.htm Fri, 03 Oct 2008 17:00:40 EDT Standard & Poor's Ratings Services said Friday that it placed the long-term credit ratings of Wells Fargo Corp. on CreditWatch for possible downgrade, after the company signed a $15.1 billion agreement to buy Wachovia Corp. http://www.ibtimes.com/articles/20081003/s-p-places-wells-fargo-wachovia-on-creditwatch.htm Fri, 03 Oct 2008 15:21:27 EDT THE LATEST: Wells Fargo makes bid to acquire Wachovia for $15.1 billion in all-stock deal that does not hinge on government assistance. COUNTER ATTACK: Citigroup, which is demanding Wachovia drop the Wells Fargo deal, says its prior agreement with the bank provides that Wachovia will not enter into any transaction with any party other than Citi or negotiate with anyone else. http://www.ibtimes.com/articles/20081003/summary-box-wells-fargo-citi-battle-for-wachovia.htm Fri, 03 Oct 2008 15:02:10 EDT The head of the FDIC said the agency is standing behind the agreement it made with Citigroup Inc. to buy Wachovia Corp. despite Wells Fargo & Co.'s new $15.1 billion deal trumping Citigroup's plan. http://www.ibtimes.com/articles/20081003/fdic-stands-behind-citigroup-wachovia-deal.htm Fri, 03 Oct 2008 11:07:54 EDT The Federal Reserve says it has not had time to review the proposed sale of Wachovia to Wells Fargo & Co. but will work to make sure that all creditors are protected. http://www.ibtimes.com/articles/20081003/fed-says-it-will-carefully-review-wachovia-sale.htm Fri, 03 Oct 2008 10:02:43 EDT A battle broke out Friday for control of Wachovia, as Wells Fargo agreed to pay $14.8 billion for the struggling bank, while Citigroup and federal regulators insisted that Citi's earlier and lower-priced takeover offer go forward. http://www.ibtimes.com/data/articleimgs/144572-wells-fargo-wachovia.jpg http://www.ibtimes.com/articles/20081003/wells-fargo-acquiring-wachovia-billion.htm http://www.ibtimes.com/articles/20081003/wells-fargo-acquiring-wachovia-billion.htm Fri, 03 Oct 2008 22:57:37 EDT Wachovia Corp. said Tuesday it will assist its subsidiary Evergreen Investments by buying leftover debt from bankrupt investment bank Lehman Brothers. http://www.ibtimes.com/articles/20080930/wachovia-buying-lehman-debt-from-subsidiary.htm Tue, 30 Sep 2008 18:49:20 EDT Citigroup Inc. insisted Tuesday that it remains committed to its acquisition of Wachovia Corp., as the failure of the government's financial rescue plan cast doubt on the bank's willingness to close the deal. http://www.ibtimes.com/articles/20080930/citigroup-expresses-commitment-to-wachovia-deal.htm Tue, 30 Sep 2008 17:46:01 EDT Shares of Wachovia Corp. recouped some of their losses Tuesday, one day after the bulk of the bank's operations were sold to Citigroup Inc. in a deal orchestrated by the federal government. http://www.ibtimes.com/articles/20080930/wachovia-shares-recoup-some-losses.htm Tue, 30 Sep 2008 12:47:19 EDT It was only days ago that Wachovia Corp. appeared headed toward a deal with Morgan Stanley, a merger that would have moved a piece of staggering old Wall Street south and further established the Queen City as a new hub of the American financial system. http://www.ibtimes.com/articles/20080930/wachovia-sale-alters-charlotte-business-landscape.htm Tue, 30 Sep 2008 08:08:45 EDT