Business Services Industry
Wachovia Holders Vote Today in Winston-Salem, N.C. on First Union Takeover.
Knight Ridder/Tribune Business News, August, 2001
By Barry Flynn, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Aug. 3--When the rival executives slip into their seats for today's Wachovia Corp. annual meeting in Winston-Salem, N.C., the battle lines will be clear and the stakes, like the egos, outsized.
But no matter the outcome, the scheduled shareholders' vote will not offer a quick end to the bitter battle between two of the Southeast's biggest banks -- First Union Corp. and SunTrust Banks Inc. -- over the chance to buy Wachovia.
Instead, the uncertainty and disruption that have bedeviled Wachovia and its two suitors for months already are likely to continue for some time, if in different, hard-to-predict ways.
For one thing, the loser could find itself...
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