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November 30, 2007
BofA: No comment on Citi merger speculation
Bank of America Corp. declines to comment on a published report that says Citigroup Inc. recently rejected a suggested merger with the Charlotte-based bank.
On Wednesday, The Wall Street Journal reported a "prominent investment banker," whom the paper did not name, pitched the idea a few months ago of a Citigroup-BofA merger to Citigroup. But the New York-based bank's board dismissed the idea as "totally out of hand."
According to The Journal, BofA said it did not authorize a formal approach to Citigroup.
Posted by S. Germain at November 30, 2007 09:15 AM