As you know, Wachovia and Wells Fargo announced a stunning $15 billion merger this morning, with Wachovia’s shareholders getter 0.991 per share. That’s about $7 a share at yesterday’s closing price, or about $6 more per share than Wachovia’s shareholders were set to receive under the previously discussed merger with Citi. This morning the banks will hold a conference call to discuss the deal at 9:30 am New York time. That’s 6:30 a.m. in San Francisco, where Wells Fargo is based, so you know these guys must be pretty excited about the deal to get up that early.
We’ll be liveblogging the call right here. Refresh this page to get the latest updates. Call in yourself at 877-425-9480 with the access code 299254.
9:41 a.m.: Epic fail. We still can’t get on the call. Read DealJournal’s liveblog instead. Or, for a slightly edgier take, read Bess Levin’s liveblog. Our apologies. Our guess is that the call has turned out to be far more popular than Well Fargo anticipated, jamming up all the lines of communication.
9:36 a.m.: Nothing is working.
9:30 a.m.: We’re still stymied in our attempt to get on this call. If you are on, please comment below. To be honest, we can’t tell if the call is already underway yet.
9:25 a.m.: This is going great so far. The live webcast doesn’t seem to be loading properly, the domestic call number brings up a busy signal and the international number says it is no longer in service.