Tuesday, April 3, 2007

UPDATE 1-Nikko holder to join in tendering above Citi bid

(Reuters) - NEW YORK, April 3 - A major shareholder of No. 3 Japanese brokerage Nikko Cordial Corp. said on Tuesday it would join Orbis in tendering Nikko stock for sale at 1,900 yen per share, above Citigroup's takeover offer of 1,700 yen.

David Herro, a fund manager at Harris Associates, told Reuters his firm would follow Orbis Investment Management, which said on Monday it would place a sell order on the Tokyo Stock Exchange for its roughly 5.8 percent stake at 1,900 yen.


Read more at Reuters.com Bonds News

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