Wachovia Goes West - The Deal's a Natural

 |  Includes: C, WFC
by: Vernon Hill

Thankfully, the ill-fated Wachovia-Citigroup merger has been killed before it had a chance to be born. The combination never had any chance of success.

And, thankfully, too, Wachovia has found an acquirer that will provide both its shareholders and its customers with real value - and without the help of the FDIC.

The deal is a natural. The two companies have similar business models, and their geographies complement one another well. The result will be a very solid commercial bank, with little exposure to Wall Street.

As to Citigroup, goodbye...