24/7 Wall St.
04-14-2008, 06:20 AM
24/7 Wall St. Daily News
Wachovia (NYSE: WB) will raise between $6 billion and $7 billion. Will the money come in at $28 where the bank trades now? That is already down by half from the 52-week high of almost $57. What a deal that would be. But, no, the new financing will be at the take-under price of as little as $23. Wachovia has moved its earnings release up to today, a sure sign of news, big news. The Wall Street Journal writes "According to people familiar with the situation, Wachovia's deal is similar in structure to the $7 billion infusion announced by Washington... http://feeds.feedburner.com/~f/typepad/RyNm?i=CmLHtEG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=CmLHtEG) http://feeds.feedburner.com/~f/typepad/RyNm?i=2DNsOuG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=2DNsOuG) http://feeds.feedburner.com/~f/typepad/RyNm?i=tExXQWg</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=tExXQWg)
complete story here... (http://www.247wallst.com/2008/04/wachovia-wb-dea.html)
Wachovia (NYSE: WB) will raise between $6 billion and $7 billion. Will the money come in at $28 where the bank trades now? That is already down by half from the 52-week high of almost $57. What a deal that would be. But, no, the new financing will be at the take-under price of as little as $23. Wachovia has moved its earnings release up to today, a sure sign of news, big news. The Wall Street Journal writes "According to people familiar with the situation, Wachovia's deal is similar in structure to the $7 billion infusion announced by Washington... http://feeds.feedburner.com/~f/typepad/RyNm?i=CmLHtEG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=CmLHtEG) http://feeds.feedburner.com/~f/typepad/RyNm?i=2DNsOuG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=2DNsOuG) http://feeds.feedburner.com/~f/typepad/RyNm?i=tExXQWg</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=tExXQWg)
complete story here... (http://www.247wallst.com/2008/04/wachovia-wb-dea.html)