Shareholders of Wachovia Corporation approved the Wells Fargo merger at its special meeting. The merger was approved by approximately 76% of the votes entitled to be cast by the holders of Wachovia’s outstanding shares of common stock and Series M preferred stock, including a majority of the outstanding shares of Wachovia’s common stock.
“We believe our combined company will be a compelling value for Wachovia shareholders — and today’s vote shows they agree,” says John Stumpf, president and CEO, Wells Fargo. “Shareholders’ approval is a major step toward completing the merger and we now look forward to the official merger of our two companies a week from tomorrow.
“The actual merger integration of our companies’ systems, operations, products and services will be done very thoughtfully and deliberately over the next two to three years. I want to assure all customers of both companies that we’ll approach every discussion on the integration and conversion from the standpoint of what’s best for our customers.”
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