Wachovia-Westcorp Deal gets Final Approval

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001196-wachovia-westcorp-deal-gets-final-approva/

Wachovia Corp. has cleared the last regulatory hurdle to acquire Westcorp.

In September, Charlotte-based Wachovia announced it planned to purchase the California auto finance company and its subsidiary, WFS Financial Inc., for $3.9 billion.

The Office of the Comptroller of the Currency has approved both the conversion of Western Financial Bank, a division of WFS Financial, from a federal savings association to a national banking association and the merger of Wachovia Bank with the converted institution.

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