|
||||||||||
|
||||||||||
|
||||||||||
|
News
Contact us
Search
Affiliated sites
|
|
Citigroup to take over Nikko Citigroup Inc. aims to acquire more than 50 percent of Japan's No. 3 brokerage, Nikko Cordial Corp., which faces delisting for accounting fraud, through a tender offer that will be launched in about a week, the two firms said March 6. If the purchase, worth up to ¥1.25 trillion, succeeds, it will be the largest foreign acquisition of a Japanese brokerage and would make Nikko Cordial a Citigroup subsidiary. Citigroup now has a 4.9 percent stake in the firm. The two firms announced the agreement after Nikko Cordial's board agreed to the tender offer. The U.S. financial giant will offer to buy Nikko Cordial shares for ¥1,350, compared with the closing price March 6 ¥1,340, they said.
The Japan Times Weekly: March 10, 2007 |
Main Page ｜ Japan Times Online ｜ Subscribe ｜ link policy ｜ privacy policy
Copyright The Japan Times. All rights reserved.
