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Add-on Acquisition • Financial Services

Wells Fargo Acquires Eastdil Secured

On October 10, 1999, Wells Fargo acquired financial services company Eastdil Secured for 150M USD

Acquisition Context
  • This is Wells Fargo’s 5th transaction in the Financial Services sector.
  • This is Wells Fargo’s 7th largest (disclosed) transaction.
  • This is Wells Fargo’s 5th transaction in the United States.
  • This is Wells Fargo’s 1st transaction in New York.

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M&A Deal Summary
Date October 10, 1999
Target Eastdil Secured
Sector Financial Services
Buyer(s) Wells Fargo
Deal Type Add-on Acquisition
Deal Value 150M USD

Target Company

Eastdil Secured

New York, New York, United States
Eastdil Secured is a real estate investment banking firm. Eastdil provides property sales, debt placements, m& services, private equity transactions, corporate transactions, and mortgage sales. Eastdil was formed in 1967 and acquired Secured Capital Corp in 2006.
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Buyer Overview 1

Buyer

Wells Fargo

San Francisco, California, United States
Category Company
Founded 1852
Sector Financial Services
Employees222,544
Revenue 82.3B USD (2024)
DESCRIPTION
Wells Fargo's corporate headquarters in downtown San Francisco, California.
Wells Fargo's corporate headquarters in downtown San Francisco, California.

Wells Fargo is a diversified financial services company that provides retail, commercial and corporate banking services through banking stores and offices, the internet and other distribution channels to individuals, businesses and institutions in all 50 US states, the District of Columbia and in other countries. The company provides other financial services through subsidiaries engaged in various businesses, principally: wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. Wells Fargo was formed in 1852 and is based in San Francisco, California.

Deal Context for Buyer #
Overall 5 of 23
Sector: Financial Services 5 of 17
Type: Add-on Acquisition 2 of 8
State: New York 1 of 4
Country: United States 5 of 23
Year: 1999 1 of 1
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-06-08 Norwest

Minneapolis, Minnesota, United States

Norwest Corp. provides banking, insurance, investments, mortgage and consumer finance through 3,847 stores in all 50 states, Canada, the Caribbean, Latin America and elsewhere internationally.

Buy $34.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-10 First Security

Salt Lake City, Utah, United States

First Security Corp., a independent bank company in the western United States. Among its subsidiaries are CrossLand Mortgage and FS Van Kasper, a full service investment banking and brokerage business with 12 regional offices.

Buy $3.2B

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