Shareholders see deal as best of bad outcomes

By Jen Aronoff jaronoff@charlotteobserver.com Posted: Thursday, Oct. 09, 2008 During nearly two weeks of “As Wachovia Turns,” the company's shareholders had experienced a range of emotions fit for a soap opera: Shock. Anger. Disappointment. Confusion. Relief. But now that Wells Fargo is moving forward with its deal to buy the Charlotte bank for $7 a share, another word came to mind, at least for investor Mark Beck: Bittersweet. “I have a great sense of loss for Charlotte,” said Beck, a Charlotte businessman whose Wachovia stockholder Web site, wachoviavoteno.com, has attracted thousands of visits since it launched last week. “And as a shareholder, I think the company is worth more. But it's likely what we're going to get.” Shareholders said Thursday they were glad Citigroup would no longer fight for its widely criticized... [read full story]