Citigroup Inc. has 
agreed to invest $1.45 billion in a deal to buy Bisys Group Inc., the financial services provider. The transaction would include offering services to hedge funds and private equity firms. As a merger consideration, Bisys’ shareholders will be given $11.85 per share, and a special dividend of $0.15 will be paid at the closing of the transaction by Bisys. Citi is soon to become a leading market provider of hedge fund and mutual fund services, as well as a top-tiered administrator for the private equity industry, once this acquisition is done.
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Source : IIPM Editorial, 2007 An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
