The Federal Deposit Insurance Corp. rejected a last-minute pitch by Wachovia Corp. to remain independent hours before forcing it to sell itself, according to proxy materials filed Friday in conjunction with its pending sale to Wells Fargo & Co.

In the early hours of Sept. 29, Wachovia executives approached the FDIC with a plan that would have included a loss-sharing agreement on a designated loan portfolio in exchange for selling an equity stake to the regulator. The $764.4 billion-asset Charlotte company also proposed raising $10 billion of capital, according to a filing with the Securities and Exchange Commission.

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