Hearing Monday Could End Wachovia-Wells Fargo Merger

A hearing Monday could have a major effect on the take over of Wachovia. A judge in Charlotte will hear a lawsuit brought on by Wachovia shareholders.

The class action suit says there is a better deal out there than the proposed merger with Wells Fargo.

Financial expert Tony Plath says the Wells Fargo-Wachovia deal didn't allow any outside competitors to place a bid.

“What the shareholders are going to argue is that it's essentially anti-competitive and it squashed the idea of a competitively bid market; where there might have been a better bid that would have emerged,” Plath said.

If a judge rules in favor of the shareholders, the whole process could start over, bring in new bidders, or force a better financial offer from Wells Fargo.

The hearing is set for Monday at the county court house.