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  6. Wachovia Acquires Golden West Financial

M&A Deal Summary

Wachovia Acquires Golden West Financial

On May 8, 2006, Wachovia acquired financial services company Golden West Financial for 25.5B USD

Acquisition Highlights
  • This is Wachovia’s 5th transaction in the Financial Services sector.
  • This is Wachovia’s largest (disclosed) transaction.
  • This is Wachovia’s 5th transaction in the United States.
  • This is Wachovia’s 2nd transaction in California.

M&A Deal Summary
Date 2006-05-08
Target Golden West Financial
Sector Financial Services
Buyer(s) Wachovia
Deal Type Add-on Acquisition
Deal Value 25.5B USD

Target

Golden West Financial

Oakland, California, United States
Golden West Financial Corp. is a savings and loan that operated as World Savings Bank. It had 285 branches in 2006 when it was acquired by Wachovia.

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Buyer(S) 1

Buyer

Wachovia

Charlotte, North Carolina, United States
Category Company
Founded 1908
Sector Financial Services
DESCRIPTION

Wachovia was a diversified financial services company based in Charlotte, North Carolina. Wachovia provided general banking services, wealth management, capital management, and corporate and investment banking services.

DEAL STATS #
Overall 5 of 6
Sector: Financial Services M&A 5 of 6
Type: Add-on Acquisition M&A Deals 4 of 5
State: California M&A 2 of 2
Country: United States M&A 5 of 6
Year: 2006 M&A 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-12 Westcorp

Irvine, California, United States

Westcorp is a financial services holding company whose principal subsidiaries are WFS Financial Inc and Western Financial Bank.

Buy $3.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-31 A.G. Edwards

St. Louis, Missouri, United States

A.G. Edwards, Inc. is a diversified financial services company based in St. Louis, Missouri.

Buy $6.8B
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