Wachovia shareholders approve Wells Fargo deal

The controversial Wells Fargo/Wachovia deal is one step closer to final today, as Wachovia
shareholders voted to approve the merger at its special meeting of shareholders Tuesday,  December 23.

The deal was approved by approximately 76 percent of the votes cast.

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"We are pleased that Wachovia's shareholders agree that the Wells Fargo/Wachovia combination will provide superior growth and long-term value to shareholders, customers, employees and our communities," said Robert K. Steel, CEO of Wachovia in a press release. "We received overwhelming support from Wachovia's shareholders today, with approximately 96 percent of the votes cast by Wachovia shareholders approving the transaction."

Wells Fargo and Wachovia announced this deal on Oct. 3, 2008. The transaction is still on
track to close by the end of 2008. - Thomas Groppe

See Wells Fargo press release

See Dealscape's coverage of the deal.

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