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Merger/Acquisition Wells Fargo & Wachovia
Pages 7 (1757 words)
Merger/Acquisition Wells Fargo & Wachovia Name Institution: Course: Tutor: Date of Submission: Merger and acquisition between Wells Fargo and Wachovia. Introduction In 150 years back, the foundation of the company Wells Fargo become legendary form the founders Henry Wells and his counter part William Fargo from its heritage which stills holds a great identity of image, its people and values.
It has total assets of $330 billion in the 2001 and employees of about a total of 84,000. It provides a broad range of services search as asset management, management of wealth, banking products for investments and corporate. It has operations in 21 sates and retail banking offices of a total 3,300 from Florida to the Connecticut and from the west to California and Texas. Wachovia manages over $1.2 trillion assets for clients through a registered representative of about 18,600 and offices nation wide of about 1,500. In July Wachovia named CEO was Robert Steel who was known to be at the department of Treasury under the title secretary. The merger. The growth of firms is by purchasing other companies, thus merger could be the buying of one firm by another. Acquisition is uniquely in same principal as merger but is usually described to reference a huge firm purchases. In other words mergers and acquisitions are basically friendly hostility also occurs. Managers and directors of the board in a firm for a acquisition disapprove of the merger in the situation a of a hostile takeover. Hostile takes place in merger or acquisition, a rich yet wealthy investor or another firm may take or make a tender offer to gain control of the target company. ...
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