Other Bidders For Wachovia (WB)?

At the Value Investing Congress, Pershing Square's Bill Ackman present the bullish case for Wachovia (NYSE: WB). He said Wachovia's Board should and will pursue highest-value/highest-certainty transaction. To get other bidders to the table, shareholders need to better understand what Wachovia's Pro Forma looks like. This can be addressed through additional disclosure from Wachovia.

As to other bidders, Ackman said Goldman Sachs (NYSE: GS) could be interested (he has no inside knowledge). Goldman Sachs is now a bank holding company. Goldman could buy Wachovia and get a deposit base right away. Ackman thinks Wachovia is a very attractive investment for anyone who wants to attract accounts and deposits. Today, using commercial paper to fund operations is no longer a solid solution.

Wachovia Corporation (Wachovia) is a financial holding company and a bank holding company.
he Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm.

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