10/06/2008 (6:58 pm)
Wachovia’s stock up nearly 59%
Shares of Wachovia Corp. rebounded Friday after Wells Fargo said it would buy Wachova.
At closing, Wachovia (NYSE:WB) shares were up nearly 59 percent to $6.21.
Wells Fargo’s stock (NYSE:WFC) slid about 2 percent to $34.56 after trading higher for most of the day.
Citigroup Inc. (NYSE:C), which agreed to buy Wachovia’s banking operations earlier this week, saw its stock fall about 18 percent to $18 (quick payday loans).35 on Friday.
The Wells Fargo-Wachovia deal announced Friday morning could trump Citi’s earlier offer.
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