Citigroup (C) Loses Out on Wachovia, Stock Drops
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Price: $145.67 +1.82%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
Revenue Growth %: +7.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
Revenue Growth %: +7.7%
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Citigroup Inc. (NYSE: C) is down over 6% this AM after losing out on Wachovia (NYSE: WB) and its massive deposit base after Wachovia announced a $7 per share merger with Wells Fargo (NYSE: WFC).
On Monday, Citigroup announced a acquisition of the banking operations of Wachovia in a transaction facilitated by the FDIC. This deal is now dead.
On Monday, Citigroup announced a acquisition of the banking operations of Wachovia in a transaction facilitated by the FDIC. This deal is now dead.
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