1.
U.S. markets recover from steep losses
CHARLOTTE, N.C., Dec. 18 (UPI) -- Many Wachovia Corp. shareholders have given up the fight to keep the U.S. bank independent, analysts say.
Some shareholders say they won't even bother to show up at a meeting Tuesday in Charlotte, N.C., to express their opposition to selling the bank company to San Francisco's Wells Fargo & Co., The Charlotte Observer said.
The newspaper said some shareholders are dumping their shares at a loss, and a shareholder group, Wachovia Vote No, which formed after the sale was announced, shut down its Web site two weeks ago.
The report said resistance to the sale sustained another defeat Wednesday when a New York investor settled his lawsuit against both banks over the purchase agreement. The suit alleged Wells Fargo wasn't paying a fair price or letting Wachovia investors have a fair vote.
Shareholder ballots on the sale are set to be tallied Tuesday. The Observer said Wells Fargo controls 40 percent of the vote because of a provision it inserted into the purchase agreement, and a state judge has refused to strike the provision down.
|
|
|
|
|
|
| Additional Business News Stories | |
DAMASCUS, Syria, May 24 (UPI) --
The Syrian government has lost about $4 billion since September because of sanctions placed on oil exports, the country's petroleum minister said.
|
LISLE, Ill., May 24 (UPI) --
A new special operations tactical vehicle has been unveiled by three U.S. companies.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
It is a whole new ball of wax in Europe these days.
|
| Stories | Photos | People | Comments |
View Caption
