Getting your player ready...
NEW YORK — Federal antitrust regulators on Friday cleared Wells Fargo’s $11.7 billion acquisition of Wachovia Corp., capping a week-long battle for the Charlotte, N.C.-based bank.
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.
The acquisition still needs the approval of Wachovia shareholders.
