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Whatever Happened to Citicorp?

Dana Cimilluca notes that shares in Citigroup, today, are below the level at which shares in Citicorp were trading before it merged with Travelers. Now, that's not necessarily a fair comparison: Citigroup, today, has a market capitalization of $135 billion, which compares to a market capitalization of $70 billion for Citicorp and Travelers combined on April 6, 1998, just before the merger was announced. Even after the announcement, the two together were it was only worth $84 billion.

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