Treasury to sell Citi stocks
The Treasury Department said Monday that it plans to sell up to 1.5 billion shares of Citigroup stock. The government received about 7.7 billion shares, or a 27 percent stake, as compensation for support during the financial crisis in 2008. If the government sold all its shares it would receive about $36.2 billion, $11.2 billion above what it paid for them.
Hertz to buy Dollar Thrifty
Hertz Global Holdings Inc. said Monday that it has agreed to buy rival Dollar Thrifty Automotive Group for about $1.17 billion in cash and stock as it tries to expand its vacationer business. The deal will give Hertz, already the world's largest car rental company, one-third more locations around the globe, boosting its total to 9,800.
Stocks mixed in trading
The stock market closed narrowly mixed Monday after a strong earnings report from Caterpillar Inc. offset investor worries about financial regulation. The Dow Jones industrial average rose 0.75 points, or 0.01 percent, to 11,205.03. The Standard & Poor's 500 index fell 5.23, or 0.4 percent, to 1,212.05. The Nasdaq composite index fell 7.20, or 0.3 percent, to 2,522.95.
From wire reports