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In mid-2008, on Wall Street, events took place at a breathtaking pace - the financial institutions that were bidding for other banks dramatically became prey in a matter of days. One such victim was Wachovia Corporation, which in late October 2008 bid to acquire Merrill Lynch, but could not close the deal. By November 2008, however, it could not sustain alone and Wells Fargo snapped it up after a fierce battle with Citigroup. This case study focuses on the circumstances that forced Wachovia to take a decision to sell itself to Wells Fargo. It discusses the success story of Wachovia, which rose from a small financial institution to the third-largest banking chain (based on total deposits and the fifth-largest bank by market capitalisation) in the US. The case analyses the internal and external factors that encouraged Wachovia to enter into the mortgage business which victimised the bank through sub-prime lending. Evaluating the radical measures adopted by Wachovia to save itself from the repercussions of the acquisition of Golden West Financial Corporation and of the credit market disturbances. The case study also discusses the alternative strategies that would have saved the bank in the crisis.