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Merger partners Wachovia Corp. and First Union were obliged Wednesday to amend key portions of their breakup fee arrangement in order to placate shareholders considering a rival hostile offer from SunTrust Banks. SunTrust reportedly plans to continue with its bid, but hinted that the changes may be enough for SunTrust to drop its legal challenge to the Wachovia-First Union agreement.
May 30, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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