Wachovia on Sunday was hammering out the final terms of a deal that would provide a capital infusion of several billion dollars from outside...

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NEW YORK — Wachovia on Sunday was hammering out the final terms of a deal that would provide a capital infusion of several billion dollars from outside investors, The Wall Street Journal reported.

The deal could be announced as soon as today, The Journal reported, citing unidentified people familiar with the matter.

The fifth-largest U.S. bank by market capitalization would receive $6 billion to $7 billion. In return, the investor group would get shares priced at roughly $23 to $24 apiece, a 15 percent discount to Friday’s stock price of $27.81.

The shares have plummeted 48 percent in the past year.

Wachovia’s deal is similar in structure to the $7 billion in capital Seattle-based Washington Mutual got last week from an investment group led by private equity firm TPG, according to people familiar with the situation.

Wachovia could not immediately be reached for comment. However, the Charlotte, N.C., bank released a statement late Sunday saying it would report first-quarter financial results this morning, several days earlier than expected.

The trouble at Wachovia stems largely from its 2006 acquisition of California-based mortgage lender Golden West Financial for about $24 billion.

Golden West’s loans were concentrated in California, one the hardest-hit housing markets in the U.S.