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Pandit Rejected Goldman Sachs' Takeover Offer, Rumor Says

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DealBook   |   October 27, 2008 08:24 AM

Read More: Banks, Citigroup, Finance, Financial Crisis, Goldman Citi Merger, Goldman Sachs, Lloyd Blankfein, Vikram Pandit, Business News

In yet another example of the backchannel maneuvering that preceded the federal government's bailout of the financial sector, Goldman Sachs' chief Lloyd Blankfein reached out to Citigroup's Vikram Pandit last month to discuss a merger, The Financial Times reported.

In a call, made at the tentative suggestion of the regulatory authorities -- or at least with their blessing -- shortly after Goldman had won approval to convert itself from a securities firm into a commercial bank, Mr. Pandit quickly rejected the proposal.

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In yet another example of the backchannel maneuvering that preceded the federal government's bailout of the financial sector, Goldman Sachs' chief Lloyd Blankfein reached out to Citigroup's Vikram Pan...
In yet another example of the backchannel maneuvering that preceded the federal government's bailout of the financial sector, Goldman Sachs' chief Lloyd Blankfein reached out to Citigroup's Vikram Pan...
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Citi is done. If they do not merge with someone they will fall. But feel free to buy all of the shares that you can get your hands on.

    Favorite    Flag as abusive Posted 06:46 PM on 10/27/2008
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