Banks Put Wachovia Bid On Hold In Standstill Deal
Wachovia, Citigroup and Wells Fargo agreed to a standstill of all formal litigation Monday as Federal Reserve talks seek a prompt resolution. If not extended, the pause ends at noon Wednesday. Citigroup’s Michael Hanretta praised the fair minded process. Overnight reports suggested a potential geographic carve up of Wachovia’s 3,346 branches. Citigroup had agreed to buy Wachovia's banking assets for 2.1 billion dollars in a Fed brokered deal.
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New York
Wachovia
Citigroup
Wells Fargo
Federal Reserve
Federal Reserve Board
Michael Hanretta
Associated Press
The
Wall Street Journal
Wachovia Corp
Citigroup Inc
Anil Kashyap
University of Chicago
Graduate School of Business
Asia
U.S
Wall Street
Wells Fargo to buy Wachovia in 15.1 billion deal
Wells Fargo agreed to acquire Wachovia in a 15.1 billion dollar deal, with a closing price cited at 33.64 per share. The transaction occurred without government support and escalated a court fight with Citigroup. Analysts warned a prolonged battle could harm the financial system, urging a quick resolution.
MENTIONED IN THIS ARTICLE
Citigroup
Wells Fargo
Charlotte
N.C
Fed Approves MUFG Stake in Morgan Stanley
The Federal Reserve approved Mitsubishi UFJ Financial Group Inc to acquire up to 24.9 percent of Morgan Stanley voting shares. The decision was issued via an order on Monday, enabling the Japanese bank to take a substantial stake in the U.S. investment firm.
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Washington, D.C
Federal Reserve
Japan
U.S
Morgan Stanley
Fed
Mitsubishi Ufj Financial Group Inc
Global stocks plunge as Dow swings rattle markets
Global markets rout spreads from Asia to Europe and the United States as the Dow falls, banks fear lending, and governments rush to backstop banks. Bush reassures economy while bailout effects remain uncertain. Dow drops to 9,525.32 with losses broad and daily US market value plunges near $1.1 trillion at session low.
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Bill Stone
PNC Wealth Management
Wall Street
Japan
Europe
Britain
France
United States
Bush
Cincinnati
U.S
Dow
House
New York Stock Exchange
Treasury
Financial rescue under way as markets plunge
Washington moves to deploy a large financial plan with Neel Kashkari overseeing international affairs as bond sales rise. The Federal Reserve expands a short term loan facility to 900 billion and pays interest on bank reserves while Bush seeks to calm markets amid a Dow drop that briefly neared 800 points.
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Washington
Treasury
Goldman Sachs
Neel Kashkari
Federal Reserve
Bush
San Antonio
Texas
Dow
Market In Review World Allocation Stocks Top 20 Percent
Monday's market note surveys allocations in World Allocation and World Stock sections. It highlights top 20 percent performers and bottom performers, with emphasis on fund category labels LB Large Blend LG Lang 1 Specially neat and related metrics.
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Wells
Deposit Insurance Corp
San Francisco
Wells Fargo & Co
Fed Oks
Lehman Brothers
American International Group
Germany
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Greece
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Bank of America
Washington Mutual
Stihl
Pennington’s Power Products Inc
Lumpkin Road
Augusta
Takiyah Bryant
Allstate Insurance Company
Dougherty Road
Aiken
Allstate.com
Pat Roberts
Prudential
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Aikensc.com
Stock Exchange
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Pfizer
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Wore
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StreamGn
Monday's Market IN Review
PwShs
Microsoft
Intel
Oracle
Apple Inc
Yahoo
Comcast
At&t Inc
Apple Inc BP PLC
CBS B
Itigro
Lovad NY
Dell Inc Directv
FMC Corp
Nasd
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Harteyd NY
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Lest
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Dow Jones
Invcoama m
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Dodge & Cox Stock
Doig & Cox Nl
American Funds Fundming
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Vanguard TotBond
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Fidelity GrowCo
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