Judge Bars Wells Fargo Takeover Of Wachovia

Law360, New York (October 3, 2008, 12:00 AM EDT) -- A New York Supreme Court judge has issued a restraining order barring Wells Fargo & Co. from taking over Wachovia Corp. for $15.1 billion, acting late Saturday on a motion filed by Citigroup Inc., Wachovia's jilted suitor.

The brief order, signed only with the judge's initials, extends the term of an earlier agreement between Citigroup and Wachovia until further court action.

In a deal approved by Wachovia's board Thursday night, Wells Fargo agreed to purchase Wachovia in its entirety, unlike Citigroup's bid to buy only Wachovia's...
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