So the war of lawsuits and propaganda that continues in the Wachovia buyout leaves a lot of locals shaking their heads in confusion and concern. The Wachovia board of directors would like First Union to take over their company and create America's fourth largest bank. The Wachovia board has proclaimed SunTrust's merger bid a "hostile takeover." But SunTrust offered a slightly higher price per share to Wachovia stockholders. First Union officials recently moved in to sweeten their pot by guaranteeing dividend rates if Wachovia shareholders vote to let First Union buy Wachovia. SunTrust, meanwhile, filed a federal court suit. It says a stock option that lets First Union get 19.9 percent of Wachovia's outstanding shares if somebody else buys the company unfairly limits competing bids.