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Citigroup Inc. (NYSE: C)
March 13, 2007
Citigroup to Launch Tender Offer For 100% of Nikko Cordial’s Shares at ¥1,700 Per Share
Tokyo – Citigroup and Nikko Cordial announced today that they have agreed that Citigroup will launch a tender offer for 100% of Nikko Cordial’s shares at ¥1,700 per share. Citigroup expects to launch the all-cash tender offer as soon as practicable. The boards of both companies have approved the launch of Citigroup’s tender offer at this price.
Citigroup revised the price for its planned tender offer following the decision of the Tokyo Stock Exchange, Osaka Securities Exchange and Nagoya Stock Exchange to return Nikko Cordial’s shares to normal trading status, an action which significantly improves Nikko Cordial’s outlook and prospects.
Citigroup and Nikko Cordial look forward to completing their comprehensive strategic alliance that both companies announced on March 6, 2007.
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Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.