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Citi to Acquire Wachovia's Banking Operations for $2.16B

Up to 380 Bank Branches to Close
By Sasha M Pardy
September 29, 2008 | 6:35 P.M.

On Sept. 29, Citi (NYSE: C) announced it reached an "Agreement-in-Principle" to acquire all of the banking operations of Wachovia Corporation (NYSE: WB). If such a deal closes, Citi would become the largest U.S. bank in terms of total deposits.

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