Sunday, October 5, 2008

SO, what’s worth fighting over

Citi gets court order, blocking Wells-Wachovia deal

NEW YORK (MarketWatch) - Citigroup said late on Saturday that a New York court issued an order extending its agreement under which it has exclusive rights to negotiate a purchase of Wachovia Corp. A deal between Wachovia and Citi was unveiled on Monday. But late on Thursday, Wachovia agreed to be acquired by Wells Fargo. Responding on Friday to the Wachovia-Wells tie-up proposal, Citigroup claimed that it had exclusive rights and that Wachovia was not permitted to talk to anyone else.

Posted by malct @ 12:37 PM (441 views)
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