May 7 (Reuters) - Wells Fargo & Co, in an SEC filing:
* Says $6 billion stock offering to price may 8, revises estimates on Wachovia merger
* Now sees $40 billion credit writedowns on impaired loan portfolio, up from prior $39 billion forecast
* Now sees lower merger costs by year end than the $7.9 billion originally assumed
* Now says there are 'revenue synergies' from Wachovia in 2009; previously had not assumed any
* Says former Wachovia business holding onto deposits and spread better than expected
* Says expects to raise an additional $7.7 billion tier-1 common by November 9, 2009 via pre-tax earnings, other capital generation, contingency sources
((New York Equities Desk; tel: +1 646 223 6000))
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* Says $6 billion stock offering to price may 8, revises estimates on Wachovia merger
* Now sees $40 billion credit writedowns on impaired loan portfolio, up from prior $39 billion forecast
* Now sees lower merger costs by year end than the $7.9 billion originally assumed
* Now says there are 'revenue synergies' from Wachovia in 2009; previously had not assumed any
* Says former Wachovia business holding onto deposits and spread better than expected
* Says expects to raise an additional $7.7 billion tier-1 common by November 9, 2009 via pre-tax earnings, other capital generation, contingency sources
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Wells Fargo & Co click here:) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.