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Ticker Summary (C)

3.91+0.03 (+0.77%)
Open 3.94
High 3.98
Low 3.90
Volume 436,083,584
Market Cap 113.3B
52 Week High 5.07
52 Week Low 3.11
P/E -24.44
F P/E 8.43
EPS -0.16
Dividend N/A
Yield N/A
1 Year Target 5.32

C 3.91 +0.77%

Citigroup Acquires Wachovia for $2.2B (money.cnn.com)

In an all stock deal, Citigroup acquired Wachovia's banking division. Citigroup is planning to raise $10 billion in stock sale as well as cutting its dividend in half in order to preserve capital. As part of the agreement Citigroup will receive Wachovia's deposit network giving it more then $600 billion in deposits in the U.S.

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2 years 271 days ago by Tim

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