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Article: Executives from First Union, SunTrust Try to Woo Wachovia Shareholders.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 4, 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 Carol Hazard, Richmond Times-Dispatch, Va. Knight Ridder/Tribune Business News
Jun. 4--Robert Keeler is holding on to his shares of stock in First Union Corp. so he can vote against the bank's proposed merger with Wachovia Corp.
The Reynolds Metals retiree would rather see Wachovia merge with SunTrust Banks Inc.
"The SunTrust deal is better for stockholders," said Keeler, who has stock in all three banks.
First Union would counter that the premium first offered by SunTrust has shrunk. It would say that its bid offers more potential return for the investor.
SunTrust would say its offer is simpler. The cultural fit is ...