www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

WORLD> America
Wells Fargo plans to buy Wachovia; Citi ends talks
(Agencies)
Updated: 2008-10-10 17:08

NEW YORK - Citigroup abandoned its brief but acrimonious battle with Wells Fargo & Co over Wachovia Corp, one of the United States' largest banks, losing out on a deal crucial to strengthening its retail banking business but vowing to pursue up to $60 billion in legal claims.


A man passes a Wachovia Bank branch October 2, 2008 in Washington, DC.[Agencies]


Wells Fargo Chairman Dick Kovacevich called the merger "simply an incredible fit," while Wachovia CEO Robert Steel said the deal would create "one of the strongest financial firms in the world."

Related readings:
 Wachovia prepares for split
 Citigroup, Wells Fargo agree to Wachovia truce
 Citigroup dispute may split Wachovia Wells Fargo agrees to buy Wachovia; Citi objects

The Federal Reserve, which tried to broker a deal among all three banks, said it would immediately begin the approval process.

If approved by regulators, a Wells Fargo-Wachovia banking behemoth would rival Bank of America, the largest US bank. The new bank would boast $787 billion in deposits, 280,000 employees and 48 million customers.

In a statement, Citigroup said that "dramatic differences in the parties' transaction structures" and "their views of the risks involved" make a deal for Wachovia impossible at this stage.

Citing dramatic differences in transaction structures and views of risks, Citi said on Thursday that a deal was "impossible." But the bank said it remained willing to buy Wachovia under terms of its original deal.

Wells Fargo praised Citigroup's move and said it would aim to close the deal in the fourth quarter.

"We believe that is the correct and right decision for our country and our citizens and the health of our already stressed financial system, as well as our and Wachovia's respective shareholders and stakeholders," Wells Fargo Chairman Dick Kovacevich said in a statement.

Citi's sudden retreat came on a day the broader market fell 7 percent as investors worried that moves by governments around the world to thaw frozen credit markets might not be enough to avert a global recession.

In particular, financial stocks were hit hard, with Wachovia falling 29 percent, Morgan Stanley tumbling 26 percent and Citi declining 10 percent. In extended trading after Citi announced that it was pulling out, its shares rose 15 percent to $14.88 after closing at $12.93; Wachovia shares rose about 18 percent to $4.24 after closing at $3.60; and Wells Fargo shares rose 3 percent to $28.00 after closing at $27.25 on the New York Stock Exchange.


A Wells Fargo-Wachovia marriage would resolve the fate of another troubled US bank that was forced to put itself up for sale amid frozen credit markets and rising losses on mortgage-related assets.

As the financial crisis deepened in recent weeks, Merrill Lynch & Co Inc agreed to be bought by Bank of America Corp, Washington Mutual Inc was seized by regulators and taken over by JPMorgan Chase & Co Inc and Lehman Brothers Holdings Inc filed for Chapter 11 bankruptcy protection.

   Previous page 1 2 Next Page  
主站蜘蛛池模板: 一区二区三区中文国产亚洲 | 中文字幕亚洲在线 | 天堂av影院 | www.黄色免费 | 国产成人aaa在线视频免费观看 | a级毛片在线播放 | 欧美国产在线视频 | 欧美日韩视频一区二区在线观看 | 特级aa毛片在线播放 | 日韩综合色 | 亚洲在线视频免费观看 | 久久国产精品久久精 | 久久久久99精品成人片三人毛片 | 香蕉一区二区三区观 | 日韩高清成人毛片不卡 | 中文字幕成人 | 国产美女主播一级成人毛片 | 国产精品九九免费视频 | 色偷偷888欧美精品久久久 | 久久免费久久 | 国产福利最新手机在线观看 | 97sese论坛| 三级免费网站 | 国产成人99精品免费观看 | 亚洲爱爱爱 | 亚洲天堂黄 | 久久精品99 | 国产欧美日韩一区二区三区 | 黄色在线视屏 | 欧美一级欧美三级在线观看 | 91免费视| 美国一级毛片免费看 | 五月激激激综合网色播免费 | 鲁丝一区二区三区不属 | 久久国产精品免费视频 | 日本一在线中文字幕天堂 | 欧美在线视频不卡 | 精品视频一区二区三区免费 | 网友自拍第一页 | a级片观看 | 成人黄色在线免费观看 |