Thursday, October 9, 2008

Citi Walks Away From Wachovia

Details still coming out, but Citi looks like they are abandoning the negotiations.  Their original bid still stands.  Citi is looking for $60 billion in damages if they don't win.

1 comment:

Anonymous said...

probably for the best. Vikram's memo states the case pretty clear. Citi will sue for damages(need money) and there will be plenty of other insolvent banks to buy before this is over.