Citigroup gets $100 million from Wells Fargo over Wachovia acquisition

11/22/2010 | NYTimes.com

After losing out to Wells Fargo on acquiring Wachovia two years ago in an eleventh-hour twist, Citigroup is finally recouping the damages through a deal with Wells Fargo. In a settlement reached Friday, Wells Fargo agreed to pay Citigroup $100 million to recover financial and reputation-related losses sustained after the 2008 competition for Wachovia.

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