Tuesday, March 6, 2007
Citigroup, the largest U.S. bank, announced a cash all-shares tender offer for Japanese brokerage firm, Nikko Cordial, the third largest brokerage firm in Japan. Nikko currently is threatened with delisting from the Tokyo Stock Exchange because of an accounting fraud at its merchant bank. See NYTimes, Citigroup Launches Takeover Bid for Nikko Cordial and WSJ, Citigroup Bids for Control
Of Japan's Nikko Cordial.