M&A Deal Summary

Wells Fargo Acquires Wachovia

On January 1, 2009, Wells Fargo acquired financial services company Wachovia for 15.1B USD

Acquisition Highlights
  • This is Wells Fargo’s 13th transaction in the Financial Services sector.
  • This is Wells Fargo’s 2nd largest (disclosed) transaction.
  • This is Wells Fargo’s 15th transaction in the United States.
  • This is Wells Fargo’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2009-01-01
Target Wachovia
Sector Financial Services
Buyer(s) Wells Fargo
Deal Type Merger
Deal Value 15.1B USD

Target

Wachovia

Charlotte, North Carolina, United States
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.

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Buyer(S) 1

Buyer

Wells Fargo

San Francisco, California, United States
Category Company
Founded 1852
Sector Financial Services
Employees222,544
Revenue 82.6B USD (2023)
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. Wells Fargo 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 STATS #
Overall 15 of 23
Sector (Financial Services) 13 of 17
Type (Merger) 5 of 5
State (North Carolina) 1 of 1
Country (United States) 15 of 23
Year (2009) 1 of 1
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-01 Flatiron Credit Company

Denver, Colorado, United States

Flatiron Credit Company, Inc. handles insurance premium finance contracts for commercial property and casualty insurance through a national network of insurance agents and insurance brokers, managing general agents and insurance companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-09 Foreign Currency Exchange

Orlando, Florida, United States

FCE is a foreign banknote wholesaler that currently serves about 140 of the top 200 banks in the US as ranked by number of branches. The firm’s principal business is enabling banks to offer foreign currency exchange services to their clients on a private label basis.

Buy -
Mergr

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