Wells Fargo & Co. Announces $6 Billion Common Stock Offering

Wells Fargo (WFC), the fourth-largest U.S. bank, announced on Thursday a proposed offering of $6 billion of common stock to the public, as the bank faces regulatory stress tests to determine whether it needs to strengthen its capital, BW reported.

J.P. Morgan Securities Inc. is acting with Wachovia Securities as joint bookrunning managers for the offering.

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