News & Events

The firm is representing Wachovia Corp. in its acquisition of A.G. Edwards, Inc. Wachovia is one of the nation’s largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. A.G. Edwards, a financial services holding company whose primary subsidiary is the national investment firm of A.G. Edwards & Sons, Inc, will be combined with Wachovia Securities, LLC to create an industry-leading retail brokerage firm with $1.1 trillion in client assets and nearly 15,000 financial advisors. Upon completion of the acquisition, the combined firm will become the second largest retail brokerage firm in the United States.

Under the terms of the merger agreement, A.G. Edwards' stockholders will receive 0.9844 shares of Wachovia common stock and $35.80 in cash for each of their A.G. Edwards common shares. The deal has a total transaction value of approximately $6.8 billion. The transaction was announced on May 31 and is expected to close in the fourth quarter of 2007.

The Simpson Thacher team includes Lee Meyerson, Maripat Alpuche, Elizabeth Cooper, Mark Bussey and summer associate Chase D’Agostino (M&A); Wonda Joseph (Benefits); and Steve Todrys (Tax).