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Wachovia buys Golden West

May 9, 2006

Bobsguide:Wachovia Corp., the United States' fourth-largest bank, is expected to buy California's Golden West Financial Corp. in a deal worth an estimated $25 billion. The acquisition, expected to wrap by the end of this year, will be Wachovia's largest, providing the bank with 285 new consumer-bank branches in California and other western states. Industry observers suggest the acquisition will help Wachovia compete with U.S. banking giants Citigroup and Bank of America.

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