In fact, Citibank Group's decision is so obvious that there is no need to guess at all, they definitely chose - Traveler Group!

Quite simply, although the offer of the Standard Bank Group is full of sincerity, and it can even be said to be quite tempting, who does not know that the acquisition of the Standard Bank Group has always been wholly owned? Therefore, once Citibank is acquired by the Standard Bank Group, it can only become a wholly-owned subsidiary, which is obviously unacceptable to the senior management of Citibank.

On the contrary, if Citibank Group and Traveler Group merge and reorganize, it is basically certain that this merger will definitely be with Citibank Group as the core, and even the big brand Citigroup will only be retained in the end.

There's no way, it's really that the big brand "Citigroup" is too valuable, and it's not comparable to the Traveler Group at all.

What's more, Sandy Weir has successfully drawn a big pie for John Reed, the chairman of Citibank Group, - just after the Travelers Group determined the policy and strategy of restructuring with Citibank Group, Sandy Weir directly called John Reed and invited him to dinner.

At the dinner table, Sandy Weir did not shy away from saying, "If our two groups merge, we can provide all the financial services that everyone in the world needs, and of course, money will flow into our pockets from all over the world." ”

A large pie was delivered directly to John Reed's mouth, almost choking the "financial predator". Not only that, but Sandy Weir later directly pointed out what Citibank was most worried about, that is, joining the Standard Bank Group would only gradually disappear from everyone.

Of course, in the end, Sandy Weir did not forget to throw out his "trump card" - the merger of the two groups will be dominated by Citibank Group, and the Travelers Group can be merged into Citigroup.

This point is definitely something that John Reed can't refuse, however, this old fritter in the financial and banking world did not immediately give Sandy Weir a clear answer, but only pushed it on the grounds of "considering consideration".

In fact, at this time, John Reed's heart had already decided again!

Indeed, after heated discussions by Citi's board of directors, John Reid made a formal call to Jamie Dimon and rejected the offer from Standard Bank Group. At the same time, Citibank Group and Travelers Group sat down at the negotiating table, and the two sides formally negotiated the merger and reorganization.

No one expected that the Standard Bank Group, which had always been invincible, would actually fall into the hands of the previous subordinate Traveler Group. You know, not long ago, Lehman Brothers snatched the "fat" that the traveling group almost wanted to get in their mouths - the Salomon brothers.

However, although the Voyager Group lost the "fat" of the Salomon brothers, it took back a city and directly killed the Standard Bank Group, snatching an even bigger "fat" from his mouth.

You must know that compared with Citibank Group, the "fat meat" of Salomon Brothers is really too cold, and it is simply a mosquito leg!

As for the choice of Citibank Group, Jamie Dimon had long expected that unlike Wells Fargo, there were too many and too many forces behind Citibank to be wholly owned. What's more, Citibank is so proud, how can it allow it to lose its control?

Therefore, Standard Bank Group's offer to Citibank Group was nothing more than a whim. In other words, this acquisition is not for the sake of acquisition at all, but has other plans.

Just before Standard Bank Group launched a takeover offer to Citibank Group, not only Standard Bank Group was taking Citigroup's shares, but even Tianchen Fund, Goldman Sachs and Lehman Solomon Brothers were all buying large amounts of Citibank's shares in the secondary market.

In this way, the purpose is quite clear!

That is, to make as many benefits as possible in the capital market!

Of course, if there is a 1 in 10,000 chance of successfully eating Citigroup, it will be a big surprise!

However, it is clear that as long as the top management of Citibank Group has a little brain, they will not sell themselves to Standard Bank Group, so this time let Traveler Group "pick up a leak".

In fact, as predicted, after the dinner with Sandy Weir, John Reed turned down the offer to buy Standard Bank Group the next day, and officially sat down at the negotiating table with Traveler Group.

The merger of Citibank Group and Traveler Group is not a small fight, it is a real super merger - the merger between the two is worth $70 billion. Most crucially, the merger of Citibank and Travelers Group will change the landscape of the financial community in the United States and around the world, and they are likely to become the second largest banking group in the world after Standard Bank Group.

Therefore, as soon as the news of the merger of Citibank Group and Travelers Group came out, it caused a big wave of hype, and the entire Wall Street was shaken, and everyone was quietly waiting for the final "verdict".

One is Lang Youqing, the other is the concubine's intention, and the merger and reorganization of Citibank and Traveler Group can be said to be a matter of course, so the progress of negotiations between the two sides can be said to be very rapid.

Eventually, after intense negotiations, the two parties reached an agreement that Citibank Group and Travelers Group agreed to merge and restructure into Citigroup. The newly formed Citigroup will be the first financial group in the United States to integrate commercial banking, investment banking, insurance, mutual funds, securities and many other financial businesses.

The establishment of Citigroup did not shock Wall Street too much, because the merger of Citibank and Travelers Group was the general trend, after all, it is now a general trend among big banks and financial companies to warm up. You know, just after the news of the new Citigroup was formed, JP Morgan had another meeting with the top management and forces behind Chase Manhattan, and it seemed that they were feeling the pressure brought by Citigroup.

As the "frustrated" of the whole thing, although he was slapped in the face by the Traveler Group and Sandy Weir, the Standard Bank Group did not have any overreaction, as if the whole thing had not happened.

However, when the newly established Citigroup was re-listed, Standard Bank Group began to sell Citigroup's shares in the secondary market. You know, these shares made Standard Bank Group a lot of money - in the following time, Citigroup's market value skyrocketed from $70 billion to $250 billion.

That's what Standard Bank Group is really about......

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