Wachovia (WB) Shares Slammed 60% On Fears

Shares of Wachovia (NYSE: WB) are under heavy pressure this morning, even with reports suggesting the company is in talks with several firms, including Citigroup (NYSE: C) and Wells Fargo (NYSE: WB), about a takeover.

Investors fear, if a takeover is announced, it won't be a good deal for common shareholders.

Shares of Wachovia are trading at $4 per share, down 60% from Fridays' $10 close.

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