(Reuters) - NEW YORK, April 2 - A major shareholder of No. 3 Japanese brokerage Nikko Cordial Corp. said on Monday it will immediately place a selling order on the Tokyo Stock Exchange for its entire stake of 56.5 million Nikko shares at 1,900 yen per share.
Orbis Investment Management said it believes that Citigroup's offer of 1,700 yen per share for Nikko continues to materially undervalue the company.
Read more at Reuters.com Mergers News
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