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Wells Fargo to Acquire Wachovia in $15.1b Deal

October 3, 2008 - 10:21am
By The Associated Press

In an abrupt change of course, Wachovia Corp. said Friday it agreed to be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, wiping out Wachovia's previous plan to sell its banking operations to rival suitor Citigroup Inc.