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Academic
: ConglomerateWachovia + Citigroup Wells-Fargo
By Gordon Smith, Christine, Hurt, Vic Fleischer, Fred Tung, Lisa Fairfax, David Zaring
Steven Davidoff has the analysis here, but it seems he hadn't seen the Wachovia-Citigroup agreement, which is here. The agreement doesn't contain a fiduciary out (a provision that lets the board do with a different bidder if it feels that its fiduciary duties require it to do so). Is Wells Fargo banking on North Carolina corporate law giving it way out of the contract?
Full post as published by Conglomerate on October 03, 2008 (boomark / email).
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