The bank could announce the capital infusion as early as Monday, the report said, citing people familiar with the matter.
Final terms were still being hashed out Sunday evening, but it was likely that the investor group would contribute $6 billion to $7 billion and receive Wachovia shares priced at $23 to $24 each, the report said. The bank's stock closed Friday at $27.81.
The deal has a similar structure to
, the report said.
One potential investor in Wachovia is private-equity shop Warburg Pincus, the report added. A spokeswoman for Warburg declined to comment, and Wachovia officials couldn't be reached Sunday, according to the report.
This article was written by a staff member of TheStreet.com.