SALT LAKE CITY - First Security Corp. shareholders approved the company's acquisition by Wells Fargo & Co.
Wells Fargo has been trading at $41.50 on the New York Stock Exchange and First Security's at $14.4375 on the Nasdaq; that would price the transaction at about $2.89 billion. As of July 28 First Security had about 196.4 million shares outstanding. In April, Wells Fargo had estimated the deal to be worth about $3.2 billion.
The companies expect to complete the deal in the fourth quarter; it is subject to regulatory approval.