Wells Fargo& Co., Bank of America complete big acquisitions - Business Courier of Cincinnati:

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Charlotte, N.C.-based Bank of America has closed onits $19.45 billion purchase of Merrill Lynch & Co. of New making Bank of America thelargest U.S. with $2.7 trillion in assets. And Wells has bought Charlotte, N.C.-baseds Wachovia for $12.7 billion. The combined bank is the nation’ss fourth-largest by assets. Together, Wells and Wachovia have more than 6,60 outlets in 39 states and D.C. Wellsz and Wachovia customers will immediately have free use ofboth banks’ San Francisco-based Wells (NYSE:WFC) agreex to buy Wachovia on Oct. 3, topping a bid by (NYSE:C) for parts of Wachovia. In late September, regulators had pushed Wachovi to finda buyer.
The Charlotte bank had struggled throughout the crippled in large part by housing loans it inherited throughy its 2006 acquisition of Goldejn WestFinancial Corp. of Calif. Wells says it expects to writedown $71.r4 billion in assets acquired from Meanwhile, Bank of America has said it will cut 35,000 jobs in the next threew years as it absorbs Merrill