Thursday, November 20, 2008
Wells may add another Wachovia board member
The Business Journal of the Greater Triad Area
Wells Fargo & Co. says three or four Wachovia Corp. board members will be appointed to the merged banks’ board after Wells buys Wachovia next month.
San Francisco-based Wells (NYSE:WFC) states that intention in a filing with the Securities and Exchange Commission.
Wells had previously said three members of Wachovia’s board would join the 16-member Wells board.
The proposed purchase was valued at $15.1 billion when the banks announced their deal Oct. 3.
According to the filing, Wells and Charlotte-based Wachovia (NYSE:WB) have not identified the members of Wachovia’s board who will be appointed.
For complete Charlotte Business Journal coverage of the developing Wachovia story, click here.
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