Wachovia to buy A.G. Edwards

Fresh from buying Golden West Financial, Wachovia (WB) is now buying A.G. Edwards (AGE) for $6.8 billion in cash and stock. This will create the second-largest U.S. retail brokerage.
In September 1974, you could have picked up shares of AGE for less than nine cents a share–after factoring many, many stock splits. The stock is currently trading around $87. That’s a gain of nearly 100,000%. Not bad.

Posted by Eddy Elfenbein on May 31st, 2007 at 11:52 am

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