A battle broke out Friday for control of Wachovia,

Wells Fargo agreed to pay $14.8 billion for Wachovia bank .

The surprise announcement that Wachovia Corp. agreed to be acquired by  Wells Fargo & Co. in the all-stock deal -- without government assistance

Only four days earlier, Citigroup Inc. agreed to pay $2.1 billion for Wachovia's banking operations in a deal that would have the help of the Federal Deposit Insurance Corp.

Citigroup, which demanded that Wachovia call off its deal with Wells Fargo, said its agreement with Wachovia provides that the bank will not enter into any transaction with any party other than Citi or negotiate with anyone else.

Barring legal action, the future of Wachovia will be determined by the bank's shareholders and regulators, which both have to approve a final deal.