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Merger/Acquisition Wells Fargo & Wachovia - Term Paper Example

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Merger/Acquisition Wells Fargo & Wachovia

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. To buy the stock of a company aimed for acquisition at a cost slightly higher enough to entice stockholders to sell their shares is what we call a tender offer. The strategy to use to gather stockholders control of votes a aimed firm is called a proxy fight. When a firm rider is successful and therefore takes over the aimed firm the replacement of the existing management is usually done. In the case where mergers are hostile or either friendly they are usually categorised as horizontal, conglomerate or vertical. Horizontal merger could be the merger between companies that make and service in similar market or sell similar products for example the merger between Wells Fargo and Wachovia which it leads to the reduce of companies in the industry thus make completion reduced also. The horizontal mergers are however reviewed closely by the federal agencies before approval for protection in the market in competition. Vertical mergers are between companies that operate in perspective different in related levels in production. Conglomerate mergers is between companies and however different industries. In December 31, 2008 effectively completed the merger between Wells Fargo and Wachovia involving the Americans in the northern part the extensive system of distribution for services search as financial with stores over 11,000, using technology like ATMs of about 12,260 and wellsfargo.com plus PhoneBankSM. Customers can enjoy the free usage of combined ATMs of Wells Fargo and Wachovia. The merger involves in belief that every compelling value proposition of our tem members, customers shareholder and communities with a significant role for growth in the market. The team can benefit from even from development of professionalism opportunities in broad geography to the customers they can benefit from much from values that are much better for entrusting us with their businesses, for communities can also benefit in areas that we can leading contributor for basically financial, human and also social capital. The shareholders can also benefit form the growth that exists in the ...Show more

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  Merger/Acquisition Wells Fargo & Wachovia Course: Tutor: 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…
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