The world’s largest bank, which agreed to buy out Nikko's minority shareholders earlier in October, unveiled its share exchange agreement, which values Nikko at ¥1,700 ($14.75) per share. Nikko shareholders will vote on the matter Dec. 19, and the deal is due to take effect Jan. 29.
The Japanese deal is one of the more pleasant issues facing Citigroup these days. The bank has said it will have to write down $5.9 billion due to the subprime mortgage meltdown, placing chairman and chief executive Charles Prince in an uncomfortable position. — Peter Moreira
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