Notable Mergers and Acquisitions of the Day 10/22: WFC/WB, SNDK, CREL
- According to a Bloomberg report issued after the close yesterday, the Fed made an announcement saying that Wells Fargo (NYWE: WFC) may need to reduce deposits in the Wachovia (NYSE: WB) deal.
- Samsung Electronics has withdrawn its proposal to acquire all of the outstanding shares of SanDisk Corporation (NASDAQ: SNDK) for $26 per share in cash.
- Corel Corporation (NASDAQ: CREL) announced that discussions with a third party regarding a potential sale of Corel have ceased. These discussions were previously announced in Corel's press release issued Wednesday, August 20, 2008.
Corel's Board of Directors will continue to focus on maximizing shareholder value as an independent company and will also continue to evaluate all strategic alternatives as they may arise.
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