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WACHOVIA BUYS SOUTHTRUST FOR $14.3 BILLION

By: Import User
Updated: January 7, 2009
Charlotte-based Wachovia Corp. announced Monday it has agreed to acquire Alabama-based SouthTrust Corp. for $14.3 billion. Wachovia says the acquisition of SouthTrust will create the No. 1 bank in the Southeast. SouthTrust headquarters is in Birmingham. The first location for SouthTrust was in Dothan. The deal is expected to close by fourth-quarter and is subject to government approval and approval by shareholders of both companies.
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