BANKING

First Union to Acquire DF Southeastern: First Union Corp. said it signed an agreement to acquire DF Southeastern Inc. and its unit, Decatur Federal Savings & Loan Assn., Georgia’s second-largest thrift. Under the terms of the pact, First Union said it will exchange 0.82 of a share of its common stock for each share of DF Southeastern. Based on First Union’s closing price Friday of $38.75 per share, the deal would be worth about $145.6 million, or $31.78 per DF Southeastern share. A First Union spokesman said the company has identified $27 million in annual cost savings from consolidating DF Southeastern operations into First Union’s Georgia operations.