The Battle for Wachovia

more in Heard on the Street »

This is getting surreal.

Right now, stock markets are tumbling and the world's credit markets are in their worst state since the credit crunch began. Yet, amid this global meltdown, top executives from Wells Fargo and Citigroup are scrapping with each other to acquire Wachovia, perhaps the sickest large bank in the U.S.

What gives?

On Friday, Wells offered to pay $15.4 billion for all of Wachovia. This was superior to Citi's earlier bid for Wachovia's ...

Most Popular