The big bank is shutting down the Old Lane hedge fund once run by Citi chief Vikram Pandit. Citi, which paid $800 million last year for Old Lane, will buy the assets of the hedge fund at fair value, allowing investors to redeem their holdings on July 31.
The world's largest grain processor was downgraded to ``hold'' from ``buy'' at Citigroup Inc. because of ``irreparable damage'' to this year's corn crop by flooding in the Midwest.
Goldman Sachs Group Inc. added the second-largest U.S. trash hauler by sales to its ``Americas buy'' and ``conviction buy'' lists.
The provider of gene sequencing equipment will be acquired by Invitrogen in a cash-and-stock transaction valued at $6.7B, a 17% premium over yesterday's close.