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Thursday, October 9, 2014

Takeover Digest- New York Times business news - Oct 9, (NASDAQ: FISI), (NYSE: JPM)

The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * U.S. President Barack Obama and his top national security advisers began receiving periodic briefings on the huge cyberattack at JPMorgan Chase & Co and other financial institutions this summer, part of a new effort to keep security officials as updated on major cyberattacks as they are on Russian incursions into Ukraine or attacks by the Islamic State. (nyti.ms/1v2Z5jK)* In a long-awaited move, Citigroup Inc's lending unit, OneMain Financial, is preparing for a $50 million initial public offering. The spinoff of OneMain, which makes personal loans often to consumers with damaged credit, comes five years after Citigroup first signaled that it intended to jettison the business. The bank has said OneMain no longer fits with its strategy of catering to more affluent consumers, but previous attempts to sell the business have fallen through. (nyti.ms/1tDAXhL)

Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI traded higher by 3.65% or $0.82/share to $23.30. In the past year, the shares have traded as low as $19.72 and as high as $26.59. On average, 41011 shares of FISI exchange hands on a given day and today's volume is recorded at 23146.

JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM traded higher by 1.91% or $1.13/share to $60.40. In the past year, the shares have traded as low as $51.30 and as high as $61.85. On average, 13061700 shares of JPM exchange hands on a given day and today's volume is recorded at 15834553.



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