The Merger Between Wells Fargo And Wachovia Bank

2098 words - 8 pages

It is proper to present a business definition of merger as it found on legal reference with the ultimate goal in the pursuing of an explanation on which this paper intents to present. A merger in accordance with the textbook is legally defined as a contractual and statuary process in which the (surviving corporation) acquires all the assets and liabilities of another corporation (the merged corporation). The definition go even farther to involve and clarify about what happen to shares by explaining the following; “the shareholders of the merged corporation either are paid for their share or receive the shares of the surviving corporation”. But in simple terms is my attempt to define as the product or birth of a corporation on which typically extends its operation by combining with another corporation. So from two on existence corporations in the process it gets absorbed into becomes one entity. The legal definition also implied more than meet the eye. The terms contractual and statuary, it implied a process on which contracts and statuary measures emerge as measures to regulate, standardized, governing or simply at times may complicate whole process. These terms provide an explicit umbrella and it becomes as part of the agreement formulating or promoting a case for contracts to be precedent, enforced or regulated in a now or in the future under a court of law under the Contract Business Law Statue of Practice. As for what happens to the shares of the involved corporations no more explanation is needed as the already actions mentioned clearly stated of the expectations of a merge’s share involvement.
The purpose of this paper is to attempt to recompile information about the merger of two corporations; one of many taking places in United States today. This particular merger is in the banking industry. The two corporations are Wells Fargo Bank (mostly based on the west) and Wachovia Bank (mostly based southeast USA). It is an interest point to mention Citi Bank (mostly based on the northeast USA) from the Citi Group who makes a move to add some fun in this particular merging process. The terms learned on class such as contract, negotiation, creditors, agreements, counteroffer and other will be utilized and applied as a matter of review enabling for the a better understanding of the learned concepts from Business Law.
During the recent years the economy, the business world and the government have been experiencing tremendous change that is impacting all common private and public business practices. Business are experiencing a “ Global Financial Crisis” on which are not only the local or national markets but also the global markets are impacted on a negative and at times threaten the existence of powerful established corporations and organization. The new era is not a safe haven for no one anymore; including those who one time were described as solid financial enterprises. This environment has obligated the USA government on to attempt to...

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