After weeks of pressure and today’s additional post-WaMu-collapse stock drop, news emerged Friday afternoon (of course) that Wachovia has entered into preliminary merger talks with Citigroup (because Citi should get bigger; that’s a great idea), Wells Fargo, and Spanish bank Banco Santander.
The WSJ has more here.
Meanwhile, we can’t wait to see how this all shakes out over the weekend. (OVER THE WEEKEND!) Seriously, investment bankers, how about working on these deals during more traditional banking hours? We’re getting pretty tired over here with the 24/7 dealmaking and all, and we bet you’re even more exhausted.
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