Wells Fargo & Co., which calls itself an opportunistic but cautious buyer with a special aversion to big, down-and-out banks, hinted this week it might break from that mold if it can buy all or part of a beleaguered company at a fire-sale price.

Wells chairman Dick Kovacevich, who is known to be more candid than most bank executives, said in a speech at the Association of Corporate Growth 2008 conference in Beverly Hills Wednesday that Wells might consider a bid on a weakened company at a steep discount, according to a report by San Francisco Business Times.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.