Federal Regulators Clear Wells Fargo's $11.7 Billion Acquisition of Wachovia

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NEW YORK -- Federal antitrust regulators on Friday cleared Wells Fargo's $11.7 billion acquisition of Wachovia Corp., capping a weeklong battle for the bank, based in Charlotte, N.C.

The rapid approval comes a day after Citigroup Inc. walked away from its own efforts to buy Wachovia -- which experienced a $5 billion run on deposits in late September after the failure of west coast rival Washington Mutual Inc., according to court documents filed Friday by Citigroup.

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Federal Regulators Clear Wells Fargo's $11.7 Billion Acquisition of Wachovia

Late Thursday, Citigroup broke off talks with Wells Fargo and federal regulators after the suitors failed to reach ...

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