Wells Fargo & Co (MIL:1WFC)

€ 58.7 -2.19 (-3.61%) Market Cap: 195.05 Bil Enterprise Value: 223.72 Bil PE Ratio: 13.24 PB Ratio: 1.29 GF Score: 52/100

Principal Financial Group Inc to acquire Wells Fargo & Co Institutional Retirement & Trust Business M&A Call Transcript

Apr 09, 2019 / 01:00PM GMT

Transcript

Operator

Good morning, and welcome to the Principal Financial Group conference call discussing the acquisition announcement. (Operator Instructions) I would now like to turn the conference call over to John Egan, Vice President of Investor Relations.

John Egan

Principal Financial Group, Inc. - VP of IR

Thank you for joining us on such short notice, and welcome to the Principal Financial Group's conference call to discuss the announcement of our planned acquisition of Wells Fargo's Institutional Retirement and Trust business. The press release and a detailed slide presentation outlining the key details of the transaction are available on our website at principal.com/investor. This acquisition is scheduled to close in third quarter 2019. In addition, we are currently reviewing how best to integrate the businesses into our reporting structure and evaluating the information in our financial supplement.

Following the reading of the safe harbor provision, CEO Dan Houston, will deliver some prepared remarks. Then we will open up the call for questions. Others

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