Citi to convert preferred stock (Dealscape

The U.S. government will once again strengthen Citigroup Inc.'s capital base in a deal that could give taxpayers as much as 36% of the bank's common stock and reconstitute the bank's board.

The Treasury Department and the New York bank both issued statements on Friday, saying the government will convert as much as $25 billion in its existing holding of preferred shares into common stock.

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NOT A SUBSCRIBER? Citi to convert preferred stock Posted on February 27, 2009 12:53 PM The U.S. government will once again strengthen Citigroup Inc.'s capital base in a deal that could give taxpayers as much as 36% of the bank's common stock and reconstitute the bank's board. The Treasury Department and the New York bank both issued statements on Friday, saying the government will convert as much as $25 billion in its existing holding of preferred shares into common stock. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 6,911 articles related to Citigroup Inc. 1,165 in-depth reports on Private Equity deals in the Financial Services sector 378 articles related to the Treasury Department 50 company pages related to Citigroup Inc. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

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