Wachovia Corp.

• Position: Receives hostile bid from SunTrust Banks Inc. - Brief Article

Winston-Salem-based Wachovia Corp. got a suitor that its board didn't want but stockholders might prefer to Charlotte-based First Union Corp. In a hostile bid, Atlantabased SunTrust Banks Inc., iong rumored as a potential partner for Wachovia, is offering 1 .081 shares of its stock for each Wachovia share. The bid was valued initially at $14.7 billion, about 10% more than the initial value of First Union's friendly bid for Wochovia. SunTrust also says...