Second Nikko shareholder dismisses Citigroup offer
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A second U.S. investment fund dismissed Citigroup's $10.8 billion buyout offer for Nikko Cordial Corp. on Friday, propelling the Japanese brokerage's shares further above Citigroup's offer price.
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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, which recently acquired a majority stake in the Nikko Cordial Corporation, said Brandon Ginsberg had resigned as co-head of equities at its Japanese investment bank. Mr. Ginsberg has already left, said Masufumi Yoshino, head of corporate communications at Nikko Citigroup in Tokyo. No further details were available. The departure is the second change of senior managers at the unit since Citigroup bought 61 percent in April.
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Citigroup  is set to launch a tender offer for scandal-hit Nikko Cordial Corp. , and the Japanese brokerage is considering the bid favorably, a Nikko Cordial spokesman said on Tuesday.
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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 Inc. (CN: Quote, Profile, Research) , the world&#39;s largest financial services company, said it remains committed to asset management, rejecting a published report it might
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The London Stock Exchange said Monday that it had rejected a fresh takeover proposal from German rival Deutsche Boerse but has agreed to further talks.
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US banking giant Citigroup offers 1.253 trillion yen to buy Nikko Cordial, Japan's third-largest brokerage.
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Citigroup told employees on Tuesday that it regretted executing a $13.5 billion bond trade that has raised the ire of rival traders in Europe and led to an investigation by regulators in Britain.
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Citigroup's  $10.8 billion offer to  buy Nikko Cordial Corp. (8603.T) undervalues the Japanese  brokerage, major Nikko shareholder Southeastern Asset  Management said on Friday.
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U.S. investment bank Citigroup is set to  bid for UK stockbroker Cazenove CAZ.UL, challenging rivals JP  Morgan JPM.L and Lehman Brothers LEH.N for the City's most  venerable institution, the Observer reported.
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Citigroup stock hit a new low yesterday following two more black eyes - the shutdown of its scandalized Japanese bank and a record fine here over its hedge fund abuses.
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Citigroup said Tuesday that it had completed its move to take full control of Japanese brokerage house Nikko Cordial Corp., overcoming hurdles from financial difficulties at the US financial powerhouse.
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The Tokyo Stock Exchange decided on Monday not to strip Nikko Cordial Corp.  of its share listing over an accounting scandal in a surprise ruling that could weaken Citigroup's  $10.8 billion takeover bid for the brokerage.
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Mylan Laboratories&#39; (MYL:NYSE - news - research) board of directors Monday once again rejected investor Carl Icahn&#39;s takeover offer while also questioning his intentions and said it planned to go ahead with its planned acquisition of King Pharmaceuticals
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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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Citigroup  launched a $10.75 billion takeover bid for Japanese brokerage Nikko Cordial Corp.  on Tuesday, offering cash to the scandal-hit firm's shareholders in a deal designed to transform its business in the world's second-biggest economy.