Wells Fargo And Wachovia Merger
Wells Fargo and Wachovia merger
Issue
Wachovia and Wells Fargo faced many issues as though all banking institution when they merge. Wells Fargo’s home office of San Francisco, California $609 billion in Asset Corporation with more than 3000 branches in over 24 states (Casale, 2008). In Charlotte, NC, “the banking capital of the world” is the home office of Wachovia which, has 812 billion in assets, more than 3000 branches in over 21 states. In my research I discovered that Citigroup Inc; initially had agreed to purchase Wachovia prior to Wells Fargo making an offer. because of major differences the two companies’ could not come to an agreement. Wachovia and Wells Fargo was guilty of breach of contract.Citigroup did not prevent the merger
Issue
Wachovia and Wells Fargo faced many issues as though all banking institution when they merge. Wells Fargo’s home office of San Francisco, California $609 billion in Asset Corporation with more than 3000 branches in over 24 states (Casale, 2008). In Charlotte, NC, “the banking capital of the world” is the home office of Wachovia which, has 812 billion in assets, more than 3000 branches in over 21 states. In my research I discovered that Citigroup Inc; initially had agreed to purchase Wachovia prior to Wells Fargo making an offer. because of major differences the two companies’ could not come to an agreement. Wachovia and Wells Fargo was guilty of breach of contract.Citigroup did not prevent the merger