- Golden Corral coming to Cape; may hire 100 workers (7/21/16)10
- Area groups working together to reintroduce elk in Missouri (7/18/16)1
- Woman sleeping in car accused of attacking Cape officer (7/26/16)13
- Prosecutor says shooting by state trooper was justified (7/24/16)15
- Former Scott City mayor refutes claims made about loss of curbside recycling pickup (7/26/16)
- Hastings in Cape closing (7/22/16)5
- Governor signs Rep. Swan bill that equalizes child-custody criteria (7/6/16)5
- Suspect in downtown Cape shooting ID'd in court (7/20/16)2
- City may spend extra park tax money on Cape Splash, skate park, other projects (7/25/16)10
- Jackson's former police dog euthanized Monday (7/21/16)2
A.G. Edwards stockholders approve merger plan
ST. LOUIS -- A.G. Edwards, Inc. stockholders on Friday voted to approve a merger plan with Wachovia Corp. to form the second-largest retail brokerage firm in the nation.
The St. Louis-based financial services holding company said the transaction is expected to close around Oct. 1.
Charlotte, N.C.-based Wachovia, the nation's fourth-largest bank, said May 31 it would acquire A.G. Edwards for $6.8 billion in cash and stock to form the retail brokerage firm.
The combined brokerage unit will operate as Wachovia Securities and will have more than 3,300 brokerage locations nationwide, more than $1.1 trillion in client assets and nearly 15,000 financial advisers.
Other A.G. Edwards businesses, including research, underwriting, investment banking, mutual funds and trust, will be consolidated into Wachovia's existing operating lines.
The transaction makes Wachovia the second-largest American retail brokerage by number of brokers, after Merrill Lynch & Co. Inc.