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- Title
HOW the WAR for WACHOVIA was WON.
- Authors
Kahler Holliday, Karen
- Abstract
The article discusses the merger between Wachovia Corp. and First Union Corp. After the two announced a "merger of equals" in April of 2001, SunTrust Banks Inc. launched its own, premium-priced bid for Wachovia. SunTrust argued that its proposal offered a better value to Wachovia shareholders, and represented a simpler integration. Wachovia chief executive Leslie Baker continued to support First union's bid, though, and the article describes the comprehensive investor-relations campaign the two firms embarked upon that culminated in overwhelming approval of First Union's offer by Wachovia shareholders.
- Subjects
UNITED States; BANK mergers; WACHOVIA Corp.; FIRST Union Corp.; SUNTRUST Banks Inc.; BAKER, Leslie
- Publication
Financial Executive, 2002, Vol 18, Issue 1, p30
- ISSN
0895-4186
- Publication type
Article