Securities Law Prof Blog

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

Wednesday, October 3, 2007

Citigroup Will Buy The Rest of Nikko Cordial

After announcing big losses yesterday because of the US credit markets, Citigroup announced plans to buy the remaining one-third of the Japanese brokerage firm Nikko Cordial Corp. that it doesn't already own for $4.6 billion.  Its strategy is to increase profits outside the US to 60%, up from its current just-below 50%.  WSJ, How Nikko Cordial Can Help Citigroup.

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