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Columbia, S.C.-Area Banks See Wachovia Merger Benefits.
Byline: Kevin Dietrich
May 16--Community bankers say it doesn't matter whether First Union or SunTrust eventually lands Wachovia; they'll still come out winners.
"The perception will be there's somebody new in the market, with new rules and new fees, and that means opportunity for us," said Wayne Pearson, president of Southcoast Community Bank in Mount Pleasant.
"People are creatures of habit, and when there's a merger, change happens, which is something they don't like," he added.
Monday, SunTrust made an unsolicited $13.6 billion bid for Wachovia, a deal worth substantially more than what First Union offered last month.
- First Union, SunTrust Battle over Wachovia Gets Uglier.
- Newspaper article from: Knight Ridder/Tribune Business News May 24, 2001 700+ words
...Business News May 24--First Union and SunTrust have taken off their gloves...appearing Tuesday, First Union predicted that SunTrust's hostile bid would end...Eshet insisted. Before SunTrust's offer, First Union CEO Ken Thompson and Baker...
- First Union, SunTrust Engage in Public Dispute over Wachovia Bid.
- Newspaper article from: Knight Ridder/Tribune Business News May 19, 2001 700+ words
...the public, First Union Corp. and SunTrust Banks Inc. have stepped...from a merger with SunTrust. Thompson also defended First Union's record for acquiring...years has made First Union better equipped than SunTrust to absorb Wachovia...
- First Union? SunTrust? What Some Voters Say.(Wachovia Corp. being sought for...
- Magazine article from: American Banker Moyer, Liz May 29, 2001 700+ words
...better fit with First Union than it would be with the rival bidder SunTrust Banks Inc. Moreover...already voted for First Union as winner of the bidding war, but SunTrust has vowed to take...better fit than First Union." SunTrust's offer calls for...
- Executives from First Union, SunTrust Try to Woo Wachovia Shareholders.
- Newspaper article from: Knight Ridder/Tribune Business News June 4, 2001 700+ words
...merger. Meantime, executives from First Union and SunTrust are traveling across the country, trying...have a major presence in Richmond, with SunTrust and First Union among the top 50 employers. SunTrust employs 4,195 people in the area...
- First Union, SunTrust Return to North Carolina Court in Battle Over Wachovia.
- Newspaper article from: Knight Ridder/Tribune Business News July 17, 2001 700+ words
...Moeling said. SunTrust is asking Wachovia...reject the First Union deal as a first...having to pay First Union a breakup fee. This money, which SunTrust said represents...each. Even if SunTrust's offer is higher than First Union's, Wachovia...
- First Union, SunTrust Vie for Wachovia Bank Via Ad Blitz.
- Newspaper article from: Knight Ridder/Tribune Business News July 27, 2001 700+ words
...Business News Jul. 27--First Union Corp. and SunTrust Banks Inc. -- both wanting...3 supporting the First Union proposal. SunTrust did the same, sending the...vote for the deal. Both SunTrust and First Union have made several mailings...
- Wachovia Stockholders Hold Control in War between First Union, SunTrust.
- Newspaper article from: Knight Ridder/Tribune Business News May 15, 2001 700+ words
...shareholders select, First Union or SunTrust, may determine the...agreed to the First Union merger proposal. "It's not surprising SunTrust has made this an...Moyer said First Union probably would respond to SunTrust's $14.7 billion...
- First Union, SunTrust, Wachovia Officials Embark on Long Campaigns for Merger.
- Newspaper article from: Knight Ridder/Tribune Business News June 6, 2001 700+ words
...leaders of First Union, Wachovia and SunTrust during their tense...Union Corp. First Union and Wachovia execs...votes, while SunTrust is hoping to merge...almost no sense for SunTrust shareholders...about how First Union and Wachovia would...