Citigroup bids $10.75 bln for broker Nikko Cordial
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Citigroup  launched a $10.75 billion takeover bid for scandal-hit Japanese brokerage Nikko Cordial Corp.  on Tuesday in a deal designed to transform its business in the world's second-biggest economy.
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By Kyodo News International, Tokyo  Mar. 9--TOKYO -- Southeastern Asset Management Inc., a major investor in  Nikko Cordial Corp., said Friday the price at which Citigroup Inc. is offering  to purchase Nikko shares is too cheap.
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By Kyodo News International, Tokyo  Feb. 23--TOKYO -- Citigroup Inc. will sharply raise its equity stake in  the scandal-tainted Nikko Cordial Corp. group, industry sources said Friday.
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Japan's Nikko Cordial narrowly escaped being delisted from the Tokyo Stock Exchange Monday after a surprise decision which could complicate US giant Citigroup's attempt to take over the scandal-hit securities firm.
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MetLife is buying Citigroup's life insurance business in a deal valued at $11.5 billion, a move that strengthens its position in a rapidly consolidating industry.
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Citigroup , which has been raising  funds since taking a huge hit from the U.S. subprime mortgage  meltdown, has sold its Japan headquarters to rival Morgan  Stanley  in a deal reportedly worth US$445 million.
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Citigroup said on Monday that it had no  plans to alter the terms of its $10.8 billion bid for Nikko  Cordial Corp. even after a surprise decision by the Tokyo Stock  Exchange to not delist the brokerage.
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Citigroup said today that it had agreed to buy the wholesale mortgage origination and servicing assets of Ameriquestâs parent, ACC Capital Holdings, for an undisclosed price.
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Citigroup's  $10.8 billion tender offer to buy Nikko Cordial Corp.  looks just sweet enough to convince investors in the Japanese brokerage to sell, analysts said on Wednesday.
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The Tokyo Stock Exchange said on Monday it had decided not to strip Nikko Cordial Corp.  of its share listing over an accounting scandal, a decision that could weaken Citigroup's  $10.8 billion takeover bid for the brokerage.
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The Tokyo Stock Exchange said on Monday  it would not strip Nikko Cordial Corp. (8603.T) of its share  listing over an accounting scandal, a surprise decision that  could weaken Citigroup's  $10.8 billion takeover bid for  the brokerage.
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Citigroup's  $10.8 billion offer to buy Nikko Cordial Corp.  undervalues the Japanese brokerage, major Nikko shareholder Southeastern Asset Management said on Friday.
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Citigroup Inc. C.N is in talks to   buy the non-energy related assets of Amaranth Advisors LLC, the   hedge fund manager that disclosed billions of dollars in losses   in energy trades, a person close to the situation said on   Wednesday.
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Citigroup Inc. has received approval from the Tokyo Stock Exchange to list its shares on the bourse effective Nov. 5, the U.S. banking giant said Monday.
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Citigroup raised its offer for Nikko Cordial Corp.  by 26 percent to $13.4 billion on Tuesday, after Tokyo Stock Exchange's decision not to revoke the brokerage's listing sharply boosted the value of its shares.
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The largest shareholder in the Nikko Cordial Corporation has rejected a $10.8 billion takeover offer from Citigroup, saying that the price is too low. The shareholder, Harris Associates of Chicago, which manages money for individual and institutional investors, believes that Nikko is worth more than 2,000 yen a share, the chief investment officer, David G. Herro, said. The offer made by Citigroup was for 1,350 yen. The share price of Nikko, which is based in Tokyo, advanced 14 percent before the Citigroup offer was announced on Tuesday and it rose another 1.3 percent yesterday, closing at 1,357 yen a share. Harris owns about 7.5 percent of Nikko.
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Citigroup&#39;s European headquarters in London has been sold to a consortium led by an Irish private-equity company for 1.0 billion pounds (1.48 billion euros, 2.01 billion dollars), the buyers said Monday.