Sentence meaning.

Hello friends

I don't understand this sentence, can anyone please explain me the meaning.

"In the acquisition scramble for Wachovia bank, Citigroup Monday sued rival Wells Fargo & Co and Wachovia for $60 billion in punitive and compensatory damages, Citigroup said."

"In the acquisition scramble for Wachovia bank" what does this mean.

Thanks in advance.
Lata

 in the scramble (frenzied competitive activity) to acquire (buy) Wachovia bank

CJ 

 

To acquire something is to somehow make it yours  -   to buy it, steal it, lease it, borrow it, fight for it, etc. 

At the high school, many guys may compete (scramble) to determine which will acquire the new girl as his main squeeze.  A variety of tactics may be employed.

  - A.

Edit.  Looks like there was a scramble to reply to this post!