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DCMetroRaleigh

Bank of America almost #1

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Bank of America Corp. is on the verge of achieving a goal it has obsessively pursued for nearly 25 years: transforming the once-tiny Charlotte, N.C., bank into a national bank with enough reach to poke its finger in the eye of every competitor in New York.

Fueled by more than 70 takeovers and a relentlessly aggressive strategy that has roiled the once-genteel banking industry, Bank of America is within striking distance of overtaking Citigroup Inc. as the world's largest bank by market value, an important yardstick for investors. As of yesterday, Citigroup was valued at $235.19 billion, only 1% higher ...

Bloomberg

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That's pretty awesome

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This is a weird story.

According to the Bloomberg terminal, it didn't actually happen. BAC came within $800 million, but never inched ahead, not even briefly.

Reuters seems to be using a lower count of outstanding Citigroup shares -- lower than C itself reported on Tuesday. Why, I don't know.

At any rate, it's amazing that BofA is close to pulling ahead.

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