Tuesday, June 22, 2004

BBC NEWS | Business | US bank in $14bn takeover deal

BBC NEWS | Business | US bank in $14bn takeover deal: "The US banking industry has seen its latest round of consolidation after Wachovia agreed to buy SouthTrust for $13.7bn"

Wachovia continues its push to be a truly national bank with the announced acquisition of SouthTrust. The deal will move Wachovia strongly into the mid couth (Texas). Additionally it will save money by the elimination of about "The banks have said that they plan to cut more than 4,000 jobs and may shut as many as 150 branches."
BTW Quite a few former students of mine work at Wachovia so to them: good luck :)

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