Here’s a follow up to a story we first published back in early October: Shareholders from Wells Fargo and Wachovia voted today to approve the merger of the two financial institutions, resulting in the formation of one of the nation’s largest banks. In a deal that began back in late October, Well’s Fargo outbid Citigroup to takeover a struggling Wachovia.

“We are pleased that Wachovia’s shareholders agree that the Wells Fargo/Wachovia combination will provide superior growth and long-term value to shareholders, customers, employees and our communities,” said Robert K. Steel, CEO of Wachovia.

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According to MarketWatch, Citigroup plans on filing a suit in opposition to Wachovia’s newly announced merger with Wells Fargo:

“Wells Fargo’s conduct constitutes tortious interference with the Exclusivity Agreement,” Citi said in a statement. Citigroup demanded that Wachovia and Wells Fargo abandon a $15 billion stock swap deal that was announced earlier in the day. Citi said it “has substantial legal rights regarding Wachovia and this transaction.”

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Citigroup acquired the banking operations of Wachovia bank this morning in a deal engineered by the Federal Deposit Insurance Corporation. “Wachovia did not fail; rather, it is to be acquired by Citigroup Inc. on an open bank basis with assistance from the FDIC,” said the FDIC in a press release issued today.

Citi’s takeover of Wachovia comes on the heels of Washington Mutual’s failure of Friday. Despite the proximity of the shakeups, the two deals, although both involving the FDIC, are vastly different.

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As reported by CNBC and the Wall Street Journal, Morgan Stanley continues advanced talks with Wachovia Bank today about a possible merger. Morgan Stanley has also continued talks with a Chinese bank in an attempt to seek more capital.

We’ll keep you posted as the news rolls in.