|
|
Article: Wachovia Stockholders Hold Control in War between First Union, SunTrust.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 15, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Richard Craver, High Point Enterprise, N.C. Knight Ridder/Tribune Business News
May 15--A potential bidding war for Wachovia could enable its stockholders to wield influence over more than just the bank's direction.
Which partner the shareholders select, First Union or SunTrust, may determine the future viability of the losing bidder, as well as how much of a takeover target they become themselves, industry analysts said Monday.
SunTrust announced Monday it was making an unsolicited $14.7 billion bid for Wachovia. First Union and Wachovia said April 16 it had reached a merger agreement in which First Union would pay $12.5 billion ...