Citi Ends Negotiations with Wells Fargo Over Wachovia

On 10/09/2008, in Business, by tcaddoo

I just simply stopped blogging about the legal battle Citi is waging over Wachovia as there was too much going on over the past week to keep up with, but it appears, and I stress appears, that the negotiations are over.  Citi has ceased negotiations with Wells and has decided not to ask for the [...]

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Hearing set for Tuesday on Citi Exclusivity Agreement with Wachovia

On 10/05/2008, in Business, by tcaddoo

After much legal wrangling today, U.S. District Court Judge John Koeltl denied a restraining order request by Wachovia to stop Citigroup from demanding Wachovia stop negotiating a deal with Wells Fargo.  The Judge will however hear arguments about whether the exclusivity document between Citi and Wachovia is legally able to stop the planned merger between [...]

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Citi Granted Emergency Injunctive Relief from NY Supreme Court

On 10/05/2008, in Business, by tcaddoo

According to Citi Group’s website, Citi has been granted injunctive relief, baring Wachovia from continuing any discussions with Wells Fargo until further ordered by the court.  According to Citi’s press release, Justice Charles Ramos of the Supreme Court of the State of New York issued the order.  Both parties are to appear before Justice Ramos [...]

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No word from Citi, yet

On 10/05/2008, in Finance, by tcaddoo

It is 12:00 AM EDT and there is no word from Cit about whether they intend to file a lawsuit to block the proposed merger of Wachovia and Wells Fargo and Wachovia.  Let’s hope that the FDIC has interviened and talked some sense into Citi.  Recent history has shown that usually by now there would [...]

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