Wells Fargo did not buy out the Prudential corporation, but rather purchased Prudential Financial's 23% minority stake in their joint retail securities brokerage venture, Wells Fargo Advisors, for $4.5 billion in cash. Prior to that transaction, Wells Fargo had acquired Wachovia (which originally partnered with Prudential to form the brokerage), but the standalone insurance and financial parent companies remain completely separate corporate entities.
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