Wachovia shopping itself; Wells Fargo, Citigroup are big dogs in on the bid

Another massive bank, another huge financial shake-up about to take place. Federal regulators have been busy lately, to say the least. To think this is gonna end any time soon is wishful thinking. In the coming days something large will likely take place once again in the dilapidated banking industry. Stay tuned to a national bank near you.

Wachovia Corporation (NYSEWB), based in Charlotte, North Carolina, is the fourth largest banking chain in the United States based on total assets.[5] Wachovia is a diversified financial services company that provides a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. It is one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California.[4] It also serves retail brokerage clients under the name Wachovia Securities nationwide as well as in six Latin American countries, and investment banking clients in selected industries nationwide. Wachovia provides global services through more than 40 offices around the world.

On September 26th, 2008 it was reported that Wachovia has entered into preliminary merger talks with a handful of suitors including Citigroup, Wells Fargo and Banco Santander SA.[6][7]

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