In April 2001, First Union Corporation announced an agreement to merge with Wachovia Corp, fellow North Carolina-based commercial bank. While banks are preparing to consummate the merger, SunTrust Banks, Inc Atlanta, made a hostile offer Wachovia, setting in motion an intense fight proxy forum covering media, the courts, the investment community and Wall Street. In July 2002, Kenneth Thompson, CEO of First Union, is considering the next step First Union, knowing that Wachovia shareholders will convene on August 3, to decide the fate of the proposed transaction. "Hide
by Carliss Y. Baldwin, Jeremy Swinson Source: HBS 26 pages. Publication Date: August 16, 2002. Prod. #: 903033-PDF-ENG
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