Wachovia In Takeover Talks

Wachovia (WB) has entered into preliminary discussions with potential acquirers, the Wall Street Journal reports, citing “a person familiar with the situation.” The suitors are said to include Banco Santander of Spain, Wells Fargo and Citigroup.

Here’s the WSJ:

Wachovia officials don’t believe they need to rush into a deal, and the bank isn’t feeling any liquidity pressures, a person familiar with the company said. Still, given the uncertainty swirling through the economy, financial markets and the U.S. banking industry, Wachovia executives are exploring various strategic options.

Bank executives are expected to be in New York this weekend to discuss possible deals.


See Also: WaMu Toast, Wachovia Next?

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