graphic
News > Deals
SunTrust mulls purchase
April 23, 2001: 1:17 p.m. ET

Atlanta bank in talks to buy Citigroup's Robinson-Humphrey capital markets unit
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - Citigroup Inc. is in talks to sell the capital markets division of Robinson-Humphrey Co. to SunTrust Banks Inc., according to press reports Monday.

Negotiations between the firms are advanced but still could fall apart, the interactive version of the Wall Street Journal reported. Discussions involve Robinson-Humphrey's investment banking, trading and institutional sales unit.

graphicFinancial terms were not known, but any sale would not include Robinson-Humphrey's retail brokerage operations, the Journal said. Robinson-Humphrey is a unit of Salomon Smith Barney, which in turn is owned by Citigroup.

New York-based Citigroup (C: down $0.86 to $48.56, Research, Estimates) could not be reached for comment, nor could Atlanta-based SunTrust (STI: down $0.96 to $65.01, Research, Estimates). Robinson-Humphrey declined to comment.

A purchase would boost SunTrust's efforts to compete in investment banking. SunTrust bought Equitable Securities Corp. in 1998, and the unit since has focused on health care, textiles and technology. However, competition from New York investment firms and executive turnover have made it hard for the much-smaller Equitable to compete, the Journal said. graphic




graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council