In financial sector news and amid all the talk of the current financial crisis, bank takeovers and the recently approved bailout plan, Wells Fargo scooped up Wachovia in a move that shocked Citigroup and the FDIC who had just brokered a deal to sell Wachovia to Citigroup.

This bank merger was completed without government assistance and will keep Wachovia intact. The combined assets of the two will be $1.42 trillion and the merged banks will hold $787 billion in deposits. Wells Fargo will now be one of the largest banks in the country.

Follow the link below to read the article on the merger on NPR.com and listen to the audio report.

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