Bloomsberg's article must be referring to the only I posted last night, because I cannot find an updated article over at the WSJ.
A read of the way WB was slammed against the wall with the original C 'agreement' not made until around 5 a.m. the morning it was announced, I did wonder if all sides (WB, WFC, C, Feds) working all night with something new announced this morning.
One question I have had is: Putting aside WFC for the moment, don't WB and C shareholders have to vote to accept the offer?
If the Feds side with C, they sure are being shareholder unfriendly. There are massive numbers of individuals, many retired, who depended on WBs dividends, now gone. The WFC offer, although still a low-ball according to one of the WSJ articles I read, would at least give some value to WB shares and give people a dividend (although much less than before) once they got shares of WFC
This whole story has the makes of a movie.
Lynn |
