Prudential And Wachovia In Brokerage Merger Talks?

Prudential Financial is in talks with Wachovia about a joint venture that would merge the companies’ brokerage and research operations, according to the New York Times, citing executives close to the discussion. Motivating the deal in part, the executives said, is an interest in creating an independent brokerage and research company free of conflicts of interest involving investment banking business – though the talks are reportedly “far from complete.”