Wells Fargo & Co. to Buy Greater Bay Bancorp for 2.25 Times Revenue

The Deal: Wells Fargo & Co. has signed a definitive agreement to purchase Greater Bay Bancorp in a stock-for-stock merger transaction. Under the terms of the agreement, Greater Bay shareholders will receive an amount of Wells Fargo stock based on the stock's price over the ten days prior to the company's annual meeting. The companies value the deal at approximately $1.5 billion and expect the transaction to close in the fourth quarter of 2007. The deal requires approval from regulatory authorities and Greater Bay shareholders.