Wells Fargo acquired Wachovia (not the other way around) at the time of the collapse in the banking industry due to the great recession mess.
https://en.wikipedia.org/wiki/Wachovia#Acquisition_by_Wells_...
https://en.wikipedia.org/wiki/Wachovia#Acquisition_by_Wells_...
>The acquisition of Wachovia by Wells Fargo was completed on December 31, 2008, after a government-forced sale to avoid Wachovia's failure