October 03, 2008
Wachovia + Citigroup Wells-Fargo
Posted by Usha Rodrigues

Steven Davidoff has the analysis here, but it seems he hadn't seen the Wachovia-Citigroup exclusivity agreement, which is here.  The agreement doesn't contain a fiduciary out (a provision that lets the board do with a different bidder if it feels that its fiduciary duties require it to do so).  Is Wells Fargo banking on North Carolina corporate law giving it a way out of the contract?

Update: I've clarified that the agreement mentioned above is the Wachovia/Citi exclusivity agreement. Here's a link to a great interview with Elizabeth Nowicki on the subject.

M&A | Bookmark

TrackBacks (0)

TrackBack URL for this entry:

Links to weblogs that reference Wachovia + Citigroup Wells-Fargo:

Recent Comments
Popular Threads
Search The Glom
The Glom on Twitter
Archives by Topic
Archives by Date
February 2017
Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28        
Miscellaneous Links