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Bloomberg reported Wells Fargo has emerged as the front-runner to buy GE's railcar-financing unit, people with knowledge of the matter said.
According to the Bloomberg report, an agreement to buy the business, with more than $4 billion in assets, could be announced by Labor Day, said the people, who asked not to be identified because the matter is private. A spokesman for GE, based in Fairfield, Connecticut, declined to comment, as did a representative for San Francisco-based Wells Fargo.
To read the full Bloomberg news story, click here.