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Count Southeastern Asset Management are among those saying Citigroup's (NYSE:C) increased takeover bid for Nikko Cordial (OTC:NIKOY) is still too low. According to Bloomberg, Southeastern owns 6.6% of Nikko:

"We have increased our appraisal of Nikko Cordial above our initial assessment of 2,000 yen per share,'' said Mason Hawkins, chief executive officer of Memphis, Tennessee-based Southeastern Asset in an e-mailed statement.

Things have been, and remain, interesting with this story.

Source: Nikko Cordial: 6.6% Shareholder Southeastern Says Citi Bid Too Low