Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Saturday, March 10, 2007

Citigroup-Nikko Cordial Deal too Low?

Two major shareholders of Nikko Cordial, the scandal-ridden Japanese brokerage firm, say that Citigroup's $11 billion offer to buy Nikko is too low, leading to speculation that Citigroup will increase its price.  The acquisition would mark a significant incursion into the Japanese market for Citigroup in its quest to take over the world.  See WSJ, Another Nikko Cordial Shareholder Calls Citigroup's Offer Too Low.

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