Citigroup plans to offer up to $10.8 billion for Nikko Cordial (NIKOY/OTC) in a deal that would be the biggest foreign acquisition of a Japanese brokerage. That makes the bid worth 1350 yen per ordinary share. The linked AP report has that at US$11.63. Each ordinary share is equal to one ADR (which I own).
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March 06, 2007
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