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Article: First Union? SunTrust? What Some Voters Say.(Wachovia Corp. being sought for acquisition by both First Union corp. and SunTrust Banks Inc.)
- Article from:
- American Banker
- Article date:
- May 29, 2001
- Author:
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. 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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Robert P. Bordogna, chief executive officer of Todd Investment Advisors Inc. in Louisville, Ky., has a pretty good idea what he will do with his 490,000 Wachovia Corp. shares should the company proceed with selling itself to First Union Corp.
Sell.
A longtime Wachovia shareholder, both for his own account and on behalf of high-net-worth clients, Mr. Bordogna says he simply does not buy the company's argument that it is a better fit with First Union than it would be with the rival bidder SunTrust Banks Inc. Moreover, he said, Wachovia should stay independent if it cannot work out an amicable merger with SunTrust.
"I intend to vote with my proxy. ...