The Real Deal Miami

Citigroup, Wells Fargo will cease litigation until Friday

October 08, 2008 04:28PM

Citigroup and Wells Fargo have agreed to extend their legal cease-fire — which expired at noon today — until Friday so they can continue to explore options for the future of Wachovia. Citigroup had agreed to buy Wachovia last Monday for $2.1 billion, but Wells Fargo announced at the end of the week that it had reached an agreement to buy Wachovia for $15.1 billion.