Wells Fargo to raise $10B for Wachovia buy
The capital raising comes one week after Wells Fargo issued 25,000 preferred shares to the Department of the Treasury in exchange for $25 billion as part of the government's plan to inject capital into large U.S. banks.
Wells Fargo & Co. plans to sell at least $10 billion in stock to fund its purchase of beleaguered Wachovia Corp.
The capital raising comes one week after Wells Fargo issued 25,000 preferred shares to the Department of the Treasury in exchange for $25 billion as part of the government's plan to inje
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