04.13.2008 6:33 pm
WSJ: Wachovia to get multibillion cash infusion
St. Louis Post-Dispatch
The Wall Street Journal on its website is reporting that Wachovia Corp. could announce as soon as Monday that it is getting a capital infusion of several billion dollars from outside investors.
Final terms of the deal were being hammered out Sunday night, but it appeared likely that the fifth-largest U.S. bank in stock-market value would receive $6 billion to $7 billion. In return, the investor group would get shares priced at roughly $23 to $24 apiece — a 15% discount to Wachovia’s share price Friday.
