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Experts eye Citigroup
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April 6, 1998: 6:33 p.m. ET
Analysts look at what's ahead for Citigroup and finance sector as whole
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NEW YORK (CNNfn) - An announcement that Travelers Group Inc. and Citicorp plan to merge in a deal worth $70 billion surprised investors Monday, but some analysts say it's just the beginning of a trend toward consolidation in the financial sector.
Take a look at what some leading strategists had to say about Monday's historic merger.
Robert Froehlich, market analyst at Scudder Kemper Investments, said he anticipates mergers later this year even bigger in size than the one announced by Citicorp and Travelers.
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Don Smith, head of the M&A group at Houlihan, Lokey, Howard & Zuki, said it will take Citigroup "at least a couple of years" to realize the productivity gains it is looking for, but said the merger is part of a growing trend.
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Diana Yeats, banking analyst at A.G. Edwards, said the merger "changes the landscape," but predicted it would pass regulatory hurdles.
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Abby Joseph Cohen, co-chair of the Investment Policy Committee at Goldman Sachs, told CNNfn's "Moneyline with Lou Dobbs" that opportunities exist in the financial sector.
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