Feds OK $14.3 billion SouthTrust-Wachovia Merger

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00007832-feds-ok-143-billion-southtrust-wachovia-m/

The proposed merger of Birmingham-based SouthTrust Corp. and North Carolina’s Wachovia Corp. moved ahead Friday with the Federal Reserve’s approval. The next step is expected to come Oct. 28 as shareholders of both banks vote on the $14.3 billion deal, proposed in June.

The merger could close as quickly as Nov. 1 if shareholders approve. If approved, integration of the banks’ operations could take up to 15 months to complete. Institutional Shareholder Services Inc. – an independent stockholder advisory – has recommended Wachovia and SouthTrust shareholders approve the measure.

For this complete story, please visit Feds OK $14.3 billion SouthTrust-Wachovia Merger.

Feds OK $14.3 billion SouthTrust-Wachovia Merger

Unknown Author

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