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What happens to Wachovia?
Settled as Wells Fargo buys Wachovia
Now that Citigroup has decided not to block the merger of Wachovia and Wells Fargo, it can be settled. Settlement requests were made regarding this issue at 4:48 PM CDT so suspension time is set at 4:50 PM CDT, 10/9/08
Background:>
Wells Fargo and Citigroup spent much of the weekend fighting in state and federal court -- as well as a judge's home in Connecticut -- over which party was entitled to move ahead with a deal to buy Wachovia assets. The Federal Reserve views resolving the dispute as important, having already decided that Wachovia must be sold for the sake of the stability of the financial system, a person familiar with the matter said. Citigroup reached a preliminary agreement to buy Wachovia's banking assets for $2.2 billion in a deal backed by the U.S. government on Sept 29. Wachovia did not sign an official merger agreement with Citi, although it did sign an agreement to negotiate exclusively with Citigroup through Oct 6. But on Friday, Wells Fargo, the seventh-largest U.S. bank by assets, said it signed an agreement with Wachovia to buy the entire company without the government's help, apparently topping the Citigroup offer.
Settlement details:
As reported by a major mainstream news source.
What happens to Wachovia?
Wells Fargo buys Wachovia
Citigroup buys Wachovia
Fed carves up Wachovia between the two
No agreement is reached
Zoom out
Forecast history, %
Settled
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Wells Fargo buys Wachovia |
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Citigroup buys Wachovia |
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Fed carves up Wachovia between the two |
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No agreement is reached |
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Activity: H$9,005
Settled as
Wells Fargo buys Wachovia on Fri 10th Oct 5:19am PDT
Suspend date: Thu 6th Nov 3:59pm PST Settlement date: Fri 10th Oct 5:19am PDTPrediction cut-off: Predictions on this question after Thu 9th Oct 2:50pm PDT have been voided because they were made after the question could be settled
Initial likelihoods:
Wells Fargo buys Wachovia: 25%, Citigroup buys Wachovia: 25%, Fed carves up Wachovia between the two: 25%, No agreement is reached: 25%
Action history:
Created Mon 6th Oct 5:43am PDT by
reuters
Suspended Thu 9th Oct 4:38pm PDT by
newswrangler![This user is a super user [Power User]](http://www.hubdub.com/images/icon_superuser.gif)
:
Suspended pending settlement
Settled as 'Wells Fargo buys Wachovia' Fri 10th Oct 5:19am PDT by
bayoubear![This user is an admin [Admin]](http://www.hubdub.com/images/icon_admin.gif)
:
Now that Citigroup has decided not to block the merger of Wachovia and Wells Fargo, it can be settled. Settlement requests were made regarding this issue at 4:48 PM CDT so suspension time is set at 4:50 PM CDT, 10/9/08
Suspend date: Thu 6th Nov 3:59pm PST Settlement date: Fri 10th Oct 5:19am PDTPrediction cut-off: Predictions on this question after Thu 9th Oct 2:50pm PDT have been voided because they were made after the question could be settled
more info...
Predictions (46)
46 predictions
6 weeks ago
pita_soup predicted
Wells Fargo buys Wachovia (H$50 at 27%)
6 weeks ago
pita_soup predicted
Wells Fargo buys Wachovia (H$100 at 26%)
6 weeks ago
cjg999 predicted
Citigroup buys Wachovia (H$250 at 29%)
6 weeks ago
jolleyjoetolley predicted
Fed carves up Wachovia between the two (H$150 at 32%)
6 weeks ago
scoopboy![This user is an admin [Admin]](http://www.hubdub.com/images/icon_admin.gif)
predicted
Wells Fargo buys Wachovia (H$100 at 28%)
more6 weeks ago
pita_soup predicted
Wells Fargo buys Wachovia (H$50 at 27%)
6 weeks ago
pita_soup predicted
Wells Fargo buys Wachovia (H$100 at 26%)
6 weeks ago
cjg999 predicted
Citigroup buys Wachovia (H$250 at 29%)
6 weeks ago
jolleyjoetolley predicted
Fed carves up Wachovia between the two (H$150 at 32%)
6 weeks ago
scoopboy![This user is an admin [Admin]](http://www.hubdub.com/images/icon_admin.gif)
predicted
Wells Fargo buys Wachovia (H$100 at 28%)
6 weeks ago
pixelpaws predicted
Fed carves up Wachovia between the two (H$250 at 29%)
6 weeks ago
cognos![This user is a super user [Power User]](http://www.hubdub.com/images/icon_superuser.gif)
predicted
Wells Fargo buys Wachovia (H$100 at 26%)
6 weeks ago
mrperfkt![This user is an admin [Admin]](http://www.hubdub.com/images/icon_admin.gif)
predicted
Citigroup buys Wachovia (H$1,000 at 24%)
6 weeks ago
youbet predicted
Fed carves up Wachovia between the two (H$100 at 34%)
6 weeks ago
alm2010 predicted
Fed carves up Wachovia between the two (H$50 at 33%)
6 weeks ago
php_ini predicted
Citigroup buys Wachovia (H$20 at 16%)
6 weeks ago
pita_soup predicted
Fed carves up Wachovia between the two (H$20 at 33%)
6 weeks ago
daleo predicted
Wells Fargo buys Wachovia (H$100 at 32%)
6 weeks ago
bigken1 predicted
Fed carves up Wachovia between the two (H$300 at 48%)
6 weeks ago
reuters predicted
Citigroup buys Wachovia (H$100 at 13%)
6 weeks ago
bruns_david predicted
Fed carves up Wachovia between the two (H$50 at 47%)
6 weeks ago
guruzilla predicted
Wells Fargo buys Wachovia (H$20 at 26%)
6 weeks ago
infernalmachine![This user is an admin [Admin]](http://www.hubdub.com/images/icon_admin.gif)
predicted
Fed carves up Wachovia between the two (H$100 at 46%)
Showing recent public predictions only
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Comments (2)
http://www.marketwatch.com/news/story/hedge-fund-manager-ackman-sees/story.aspx?guid={2EA08AD8-AC21-41C0-A9F5-5EBE60B551D1}&dist=msr_1
http://www.bloomberg.com/apps/news?pid=20601087&sid=a0qyDvwv53LU&refer=home
From today's news....a suspension is definitely correct....not sure if we can settle yet, this has been such a complicated deal
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