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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.
"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. Categories Deal Video
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