Goldman called Citi for deal in September-FT
NEW YORK Oct 26 (Reuters) - Goldman Sachs (GS.N: Cotización) Chief Executive Lloyd Blankfein called Citigroup Inc (C.N: Cotización) head Vikram Pandit last month about a possible merger, but Pandit immediately rejected the proposal, the Financial Times reported on its website on Sunday.
Blankfein's call was made with the knowledge of regulators but the conversation was brief as Pandit turned it down, the paper reported, citing unnamed sources.
Blankfein move came shortly after Goldman got the approval to become a commercial bank on Sept. 21, the FT said. It added that a deal would have been structured as a Citi takeover of Goldman.
Goldman and Citi could not be immediately reached for comment. (For more M&A news and our DealZone blog, go to www.reuters.com/deals)
© Thomson Reuters 2016 All rights reserved.