(Reuters) - Wachovia said in May that it would buy regional broker A.G.
Edwards Inc. for $6.8 billion, creating the
second-largest U.S. retail broker. The move required
Prudential, which now owns a 38 percent stake in the venture,
to make a decision.
Newark, New Jersey-based Prudential said it would exercise
its "lookback" option, which allows it to delay a decision for
up to two years following the combination. It can then add
additional capital, sell its stake back to Wachovia or accept a
reduced stake in the venture.
Read more at Reuters.com Mergers News
Edwards Inc. for $6.8 billion, creating the
second-largest U.S. retail broker. The move required
Prudential, which now owns a 38 percent stake in the venture,
to make a decision.
Newark, New Jersey-based Prudential said it would exercise
its "lookback" option, which allows it to delay a decision for
up to two years following the combination. It can then add
additional capital, sell its stake back to Wachovia or accept a
reduced stake in the venture.
Read more at Reuters.com Mergers News
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