Wachovia shareholders to vote Dec. 23 on deal with Wells Fargo

By Lisa Kerner

Charlotte, N.C., Nov. 24 - Wachovia Corp. shareholders will be asked to approve Wells Fargo & Co.'s proposed $15.1 billion buyout of the company at a special meeting at 9:30 a.m. ET on Dec. 23 in Charlotte, N.C.

Record date for the meeting is Nov. 3, it was reported in a form 424B3 filed with the Securities and Exchange Commission.

Under the companies' merger agreement, Wachovia shareholders will receive 0.1991 shares of Wells Fargo common stock for each share of Wachovia common stock held.

In October, the Federal Reserve Board approved Wells Fargo's application to acquire Wachovia and its subsidiary banks as well as its nonbanking subsidiaries.

Wachovia agreed to be acquired by San Francisco-based Wells Fargo in a stock-for-stock deal that doesn't require financial assistance from the Federal Deposit Insurance Corp. or other government agency, it was previously reported.

Wells Fargo said the combined company's East Coast retail and commercial and corporate banking business will be based in Charlotte, N.C., where Wachovia is currently based. Wachovia Securities will continue to be based in St. Louis.

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