Subject category:
Case Method and Specialist Management Disciplines
Published by:
Harvard Business Publishing
Version: 15 May 2003
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Abstract
On August 3, 2001, after a hotly contested proxy fight, Wachovia Corp's shareholders voted to merge with First Union Corp. The managers of the two banks then turned to face the challenges of integrating the two organizations. Their task was to implement a 'merger of equals' that would preserve the best parts of the two former companies while realizing the potential cost savings, operational efficiencies, and revenue gains that justified the combination in the eyes of the shareholders.
Location:
Industry:
Size:
84,000 employees, USD15 billion revenues
Other setting(s):
2001
About
Abstract
On August 3, 2001, after a hotly contested proxy fight, Wachovia Corp's shareholders voted to merge with First Union Corp. The managers of the two banks then turned to face the challenges of integrating the two organizations. Their task was to implement a 'merger of equals' that would preserve the best parts of the two former companies while realizing the potential cost savings, operational efficiencies, and revenue gains that justified the combination in the eyes of the shareholders.
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Location:
Industry:
Size:
84,000 employees, USD15 billion revenues
Other setting(s):
2001