Lucas Jackson/Reuters Nearly two years after Citigroup was outfoxed in its bid for the troubled Wachovia Corporation, the bank is walking away with an unexpected prize: a $100 million check from Wells Fargo to resolve claims that it had unfairly struck its own deal. The settlement, reached Friday, ends the bitter legal sparring that began [...]
Mark Lennihan/Associated Press SEOUL, South Korea – Vikram S. Pandit, the chief executive of Citigroup, isn’t feeling the love. At a gathering here of top executives in the G-20 Business Summit, a parallel gathering alongside the meeting of leaders from the Group of 20 economic powers, Mr. Pandit suggested that the environment for financial companies [...]
5:53 p.m. | Updated By PETER LATTMAN In a case that has had its share of odd turns, the battle between the British financier Guy Hands and Citigroup over the buyout of the EMI Group took a cinematic twist on Tuesday morning. In the end, a juror was left on the cutting room floor. The [...]
Two private equity firms have completed a deal to buy a swath of Citigroup’s private equity funds. The StepStone Group will take on the management of Citigroup’s $4 billion fund of funds, mezzanine funds, feeder funds and co-investment businesses. Lexington Partners, meanwhile, has acquired a portion of Citigroup’s proprietary interests in the same unit. Financial [...]
Brendan McDermid/Reuters David Boies of Boies, Schiller & Flexner One of America’s top trial lawyers faced off against one of Britain’s top investment bankers in a Manhattan federal courtroom late on Monday in crucial testimony that could determine the fate of the EMI Group, the music giant. David Boies of Boies, Schiller & Flexner, pictured, [...]
Brendan McDermid/Reuters David Boies of Boies, Schiller & Flexner One of America’s top trial lawyers faced off against one of Britain’s top investment bankers in a Manhattan federal courtroom late on Monday in crucial testimony that could determine the fate of the EMI Group, the music giant. David Boies of Boies, Schiller & Flexner, pictured, [...]
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