In April 2001, First Union Corp. announced an agreement with Wachovia Corp., a guy in North Carolina-based commercial bank to merge. While the banks were prepared to consummate the merger, SunTrust Banks, Inc. of Atlanta made a hostile bid for Wachovia, setting in motion an intense battle with a proxy forum comprising the media, the courts, the investor community, and Wall Street. In July 2002, Kenneth Thompson, CEO of First Union, First Union considering to know the next train that Wachov … Read more »

In April 2001, First Union Corp. announced an agreement with Wachovia Corp., a guy in North Carolina-based commercial bank to merge. While the banks were prepared to consummate the merger, SunTrust Banks, Inc. of Atlanta made a hostile bid for Wachovia, setting in motion an intense battle with a proxy forum comprising the media, the courts, the investor community, and Wall Street. In July 2002, Kenneth Thompson, CEO of First Union, First Union considering to know the next train that Wachovia shareholders would be on 3 August convene to decide the fate of the project.
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from
Carliss Y. Baldwin,
Jeremy Swinson
Source: HBS
26 pages.
Publication Date: Aug 16, 2002. Prod #: 903033-PDF-ENG
New Wachovia (A) HBR case solution

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