The first report that Citi (NYSE:C) would launch a bid for more than 50% of Nikko Cordial (OTC:NIKOY) stock crossed the wires Monday afternoon, US east coast time. More were popping up all evening, such as this one from Bloomberg.
I think it's important that Citi was looking to boost its stake to 33.4% from 44.9% -- and now wants an absolute majority of shares. That suggests the financial integrity of Nikko Cordial remains intact. Though I could be wrong about that.
Okay, let's talk turkey. If Citi offers to buy my shares -- you know I own the ADRs trading OTC under the symbol NIKOY -- will I sell?
Sure, I'll sell out if Citi offers me acceptable price. And I'll report whether I sell or not. Stay tuned.
NIKOY 1-yr chart