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Citigroup, Wachovia and Wells Fargo agreed a litigation standstill until Wednesday at noon. The agreement came after Citigroup sued Wells and Wachovia for $60bn in damages on Monday. Last week, Wells agreed to acquire Wachovia for $15bn, spoiling Citi’s own takeover of the North Carolina lender for about $2.2bn, and the assumption of some risk by the Federal Deposit Insurance Corp.

3 Oct 2008 -

The carcass that got away