Wells Sells Billion in Stock for Wachovia Deal


via Wells Sells Billion in Stock for Wachovia Deal – Mergers, Acquisitions, Venture Capital, Hedge Funds — DealBook – New York Times

In one of the largest common stock offerings this year, Wells Fargo sold a greater-than-expected $11 billion of stock on Thursday evening to help fund its purchase ofWachovia.

The bank’s 407.5 million-share offering was priced at $27 a share, 6.2 percent below Wells Fargo’s closing price of $28.77 on Thursday. In after-hours trading, Wells Fargo’s shares fell 87 cents, to $27.90, Reuters reports.

Wells Fargo said in a statement that it might sell another 61 million shares to meet demand, increasing the offering to about $12.65 billion. The San Francisco-based bank said Wednesday that it planned to sell at least $10 billion in stock.


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Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 7, 2008, in Global, Investments, US and tagged , , , , , . Bookmark the permalink. 1 Comment.

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