So last week I wrote a post that Citigroup and Wells Fargo were going to court over Wachovia. Well it looks like Wells came out on top with the negoiations. But that is not stopping citigroup from taking Wells to court over it. Seems they are still quite pissed off about this deal. Who would blame them?

Here is a small clip from the article

NEW YORK (AP) _ Wells Fargo emerged as the apparent victor in the battle for control of Wachovia bank Thursday night, after rival suitor Citigroup

While Citigroup said it plans to seek $60 billion in damages for breach of contract, it has decided not to challenge the Wells Fargo-Wachovia deal in court.

Wells Fargo said late Thursday it had ended talks with Citigroup and was moving ahead to acquire all of Wachovia's banking and other operations. It said the deal would not require aid from the Federal Deposit Insurance Corp. or any other government agency.

"We're pleased Citigroup has abandoned its efforts to interfere with Wachovia's planned merger with Wells Fargo," said Wachovia spokeswoman Christy Phillips-Brown in an e-mail to The Associated Press. "We look forward to completing our merger with Wells Fargo, which we have always believed is in the best interest of shareholders, employees, creditors and retirees as well as the American taxpayers, and it imposes no risk to the FDIC fund." broke off talks with Wells Fargo and federal regulators but vowed to have its day in court.

If you would like to read the whole article you can do so at the sun-sentinel.

Looks like these two banks are heading to court for Wachovia. One believes they should have it over the other. Here is a short clip from the article.

NEW YORK (AP) _ The fight over control of Wachovia intensified Saturday, as a judge temporarily agreed to block the sale of the bank to Wells Fargo, Citigroup announced in a news release.

State Supreme Court Justice Charles Ramos issued the order blocking the sale of Wachovia Corp., which Wells Fargo & Co. had agreed to purchase in a $14.8 billion deal.

Citigroup Inc. accused Wells Fargo of trying to cut off its earlier takeover offer of Wachovia's banking operations for $2.1 billion in a deal struck with the assistance of the Federal Deposit Insurance Corp. On Friday, four days after that deal was struck, Wells Fargo said it was buying Wachovia.

The litigation pits two of the largest remaining financial institutions against one another as the ongoing credit crisis leads the federal government to arrange marriages and sales among banking entities.

To see the whole article you can go here. To think this was a done deal. Looks like we are going to have to wait and see who comes out on top.