Wachovia Corp. says securing shareholder approval of its pending acquisition by Wells Fargo & Co. â€oewould seriously jeopardize the financial viability of Wachovia.â€� The audit committee of the companyâ€TMs board, citing an exception in the New York Stock Exchangeâ€TMs policy for such a situation, has approved Wachoviaâ€TMs decision not to seek shareholder approval for the deal. And the NYSE has accepted Wachoviaâ€TMs application of the exception.
Wachovia Corp. says securing shareholder approval of its pending acquisition by Wells Fargo & Co. â€oewould seriously jeopardize the financial viability of Wachovia.â€�
The audit committee of the companyâ€TMs board, citing an exception in the New York Stock Exchangeâ€TMs policy for such a situation, has approved Wachoviaâ€TMs decision not to seek shareholder approval for the deal. And the NYSE has accepted Wachoviaâ€TMs application of the exception.
Thus the need for large for large long term owners, like family dynasties.
Because of the ineffable logic of anglosaxon capitalism, such owners does NOT result in the shares being traded with a premium, but with a discount. Peak oil is not an energy crisis. It is a liquid fuel crisis.
