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The Federal Reserve Board approved First Union's $14.66 billion acquisition of Wachovia Corp. even though the deal formally violates antitrust rules in six markets. The bank regulator said the antitrust violations are mitigated by special factors, such as the strength of competitors in those markets. Banking lawyers say the decision is proof that the Federal Reserve is receptive to potentially problematic mergers.
August 13, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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