Just Say No To Citi?

Published Thursday, October 02, 2008

Apparently, not everyone is pleased by the Citigroup deal in which Citi would buy Wachovia Corp.’s bank branches, deposits and private bank, for $2 billion, or about $1 a share. That’s just one-tenth what the Wachovia shares were trading for on the Friday before the deal was done, and some shareholders—including a number of high-end Wachovia advisors—seem to think that they should hold out for more. It worked at Bear Stearns, where an original price of $2 a share in its sale to JPMorgan was hiked to $10 just a week later by directors of both ...

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