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Article: First Union, SunTrust Battle over Wachovia Gets Uglier.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 24, 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)
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By Chris Serres, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
May 24--First Union and SunTrust have taken off their gloves in the battle over Wachovia, and their brash remarks have left shareholders and industry analysts wondering which side to believe and how this fight will end.
In full-page newspaper advertisements that began appearing Tuesday, First Union predicted that SunTrust's hostile bid would end up "gutting" Wachovia and disrupting the bank's customers. SunTrust has fired back, filing lawsuits in federal and state courts accusing First Union and Wachovia of making false statements and seeking an injunction to stop ...