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American Express to be acquired by Wells Fargo?


03/08/2016

As per Fox Business News, the credit card company is likely to be acquired by Wells Fargo or another financial firm.



With the news of Wells Fargo & Co potentially acquiring American Express Co leaking out, its shares rose by a little more than 1%.
 
Fox Business News has reported that the credit-card company could be either acquired by the banking giant Wells Fargo or by another financial company.
 
Shares of American Express rose by 1.2% to $59, after briefly touching its session high of $59.48.
 
A spokesman for Wells Fargo has labelled the report as untrue.
 
A spokeswoman for American Express has responded to requests for comments saying the company does not comment on speculations and rumours.