YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
A.G. Edwards and Wachovia Securities, which also is based in St. Louis, will have $1.1 trillion in combined client assets. Headquarters will be in St. Louis, and the merged firm will have 3,350 brokerage locations nationwide.
Wachovia Securities President and CEO Danny Ludeman will continue in that capacity with the combined firm, and A.G. Edwards chairman and CEO Robert Bagby will serve as chairman.
The two companies will continue operating under their current names until 2008. Their integration is expected to be complete in early 2009.
As a result of the merger, shareholders of A.G. Edwards – which has area locations in Springfield, Branson and Lebanon – will receive 0.9844 shares of Wachovia common stock and $35.80 in cash for each of their A.G. Edwards common shares.
In conjunction with the merger, A.G. Edwards’ investment banking business will be combined with Wachovia Capital Markets LLC.
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