IIPM-News:-
Wachovia Corporation has entered the volatile mortgage business after striking a deal to buy Golden West Financial Corporation for a whopping sum of $26 billion. For each Golden West share, Wachovia has agreed to pay 1.051 shares of its stocks, with an addition of $18.65 in cash. Wachovia has undergone more than 140 mergers which have transformed it from the image of being a sloppy bank to a leading player in financial services. The deal is the eight largest in the US banking industry and Wachovia’s largest acquisition so far. The acquisition will give Wachovia an access to Golden West’s 10,000 employees which will enable it to extend operations to over 280 branches across 10 states.
For Complete IIPM-Article, Click on IIPM-Editorial Column
Source IIPM-Editorial,2006
For Complete IIPM-Article, Click on IIPM-Editorial Column
Source IIPM-Editorial,2006
