(Citi) will ask for a bazillion dollars, and Wells Fargo will give them something

Citi ends negotiations, won’t stop Wells-Wachovia merger

Excerpt:

Analyst Nancy Bush of NAB Research said the decision was a “good deal” for Charlotte.

“You guys should be breaking out bottles of champagne,” Bush said. “They will be so much more careful of the corporate culture, of Charlotte, of the customers. They have more retail experience than Citigroup does.”

The fact that Citi backed down indicated that criticism from customers and shareholders had grown too much, she said. Of the legal dispute, “I’m sure (Citi) will ask for a bazillion dollars, and Wells Fargo will give them something,” she said. “There will be some kind of out-of-court settlement.”

Comment: Great coverage this week by the "Charlotte Observer". For the "something" ... see the Norwest coffee cup in my previous post!