Nikko's biggest investor dismisses offer: Bloomberg
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Nikko Cordial Corp.'s  biggest shareholder, Harris Associates LP, dismissed Citigroup Inc.'s  $10.8 billion takeover offer for Japan's third-largest brokerage as too low, Bloomberg reported.
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Citigroup, the financial giant, is expected to announce an offer to increase its stake in the scandal-tainted Japanese brokerage company the Nikko Cordial Corporation, said a Nikko spokesman, Shigeyuki Teshima. The potential $5 billion deal would mark Citigroupâs resurgence in Japan. Nikko Cordial faces a delisting from the Tokyo stock exchange because of an accounting scandal. According to media reports, the talks are aimed at Citigroup raising its stake in Nikko to above 50 percent, from under 5 percent. A Citigroup spokeswoman, Atsuko Yoshitsugu, declined to comment.
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The Tokyo Stock Exchange  is likely to decide to delist scandal-hit Japanese brokerage Nikko Cordial Corp.  on Friday, the Nikkei business daily reported.
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Reckson Associates Realty Corp.   on Tuesday said its board voted against a $4.3 billon takeover  offer from billionaire financier Carl Icahn, saying the bid  wasn't better than an offer from rival office landlord SL Green  Realty Corp.
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New York City Mayor Michael Bloomberg  said on Wednesday he was not a candidate for the 2008 U.S.  presidential election despite having changed his political  affiliation to independent from Republican.
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Europe&#39;s biggest bank HSBC Holdings   has rejected calls from activist investor Knight Vinke  Asset Management for it to review its strategy and shake up its  corporate governance, the Financial Times reported.
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A director on the board of Dow Jones & Co Inc  has resigned because he could not support its endorsement of a $5 billion takeover offer from Rupert Murdoch's News Corp.
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Citigroup raised its offer for Nikko Cordial Corp.  by 26 percent to $13.4 billion on Tuesday after a decision by the Tokyo Stock Exchange not to revoke the brokerage's listing sharply boosted its value.
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INDIANAPOLIS -- A federal judge yesterday rejected a Boston investor's bid for ATA Airlines Inc.'s Chicago Express regional carrier as part of the airline's bankruptcy reorganization.
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Scania AB rejected a 9.6 billion euro ($12.2 billion) takeover offer from Germany's MAN AG on Monday, while one of the Swedish truckmaker's primary shareholders said the offer did not reflect the company's true value.
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Europe's biggest bank HSBC Holdings  has rejected calls from activist investor Knight Vinke Asset Management for it to review its strategy and shake up its corporate governance, the Financial Times reported.
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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 London Stock Exchange PLC has received and rejected a bid proposal from Germany&#39;s main stock exchange, Deutsche Boerse AG , the exchanges said Monday.
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New York City Mayor Michael Bloomberg said on Wednesday he was not a candidate for the 2008 U.S. presidential election despite having changed his political affiliation to independent from Republican.
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Michael Bloomberg, the billionaire mayor and potential presidential candidate, is refusing to release his income tax returns, unlike many politicians including the president and past New York City mayors.
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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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Reuters has announced that its board has agreed to a $17.2 billion takeover offer from Canadian information provider Thomson. How might Bloomberg react?