Citigroup succeeds in tender offer for Nikko

TOKYO, Japan - Shoji Kuwashima (L), president of Nikko Cordial Corp., and Douglas Peterson, chief executive officer of the Japanese branch of Citibank N.A., shake hands after their joint news conference at a hotel in Tokyo on April 27. Citigroup Inc. said it has successfully completed its tender offer for Nikko Cordial Corp., raising its stake in Japan's third-biggest brokerage to 61.1 percent from 4.9 percent in a $7.7 billion cash bid.

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ILEA001122484

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2007/4/27 00:00:00

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Kyodo / Kyodo News Images

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2007 Kyodo News

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