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Following in the path of the old 49ers, Citigroup Inc. hopes to strike gold with its planned acquisition of Golden State Bancorp Inc. The $5.8 billion merger would more than quadruple Citigroup’s operations in California and increase its branches in the state to 415. Citigroup executives hope that the California acquisition will expand the company’s access to Hispanic consumers. The same rationale helped drive the bank’s purchase of Mexican financial services firm Grupo Financiero Banamex-Accival SA last year. For acquiror Citigroup Inc. (New York) In-house: Co-general counsel Joan Guggenheimer and Stephanie Mudick; general counsel Donna Daniels, Carl Howard, Gary Kimmelman, and Garry Seligson; deputy general counsel Anthony Villani; managing deputy general counsel Martin Wong; associate general counsel John Dye, Andrew Felner, and John Fietz; assistant general counsel Craig Barrack and Christine Homer; and senior counsel Robin Schiff. Skadden, Arps, Slate, Meagher & Flom (New York): M&A: Allison Amorison, Kenneth Bialkin, Eric Friedman, and associates James Hsu, Jo-Anne Kaplan, Ilan Katz, Thomas Lane, Wenseng Pan, Ethan Simon, and Eran Zupnik. Banking/regulatory: Stacie McGinn, William Sweet, Jr., and associate Jamie Boucher. Antitrust: Peter Greene. Employee benefits and executive compensation: Neil Leff and associate Manan Shah. Labor and employment: Karen Corman. Intellectual property/technology: Bruce Goldner and associate Debra Kruse. Real estate: Neil Rock, counsel Stephen Berkman, and associate Nicole Gagnon. Insurance: Robert Sullivan and associate J. Stephanie Nam. Environmental: Don Joaquin Frost, Jr. Tax: Stuart Finkelstein and associate Russell Nance. Investment management: counsel Deborah Tuchman. (Amorison, Kaplan, Katz, Lane, Pan, and Simon are in the firm’s Wilmington office; Hsu and Berkman are in San Francisco; McGinn, Sweet, Boucher, and Frost are in D.C.; Corman is in Los Angeles; and Kruse is in Palo Alto.) For target Golden State Bancorp Inc. (San Francisco) In-house: Executive vice president and general counsel Christie Flanagan, senior vice president and senior counsel Eric Kawamura, and senior vice president and secretary James Eller. Wachtell, Lipton, Rosen & Katz (New York): Edward Herlihy, Lawrence Makow, Jared Rusman, Craig Wasserman, and associates Nicholas Demmo, Joshua Holmes, Peter Izanec, and Jeannemarie O’Brien. Outlook The transaction awaits regulatory clearance and approval by Golden State shareholders, but GSB Investments Inc. and Hunters Glen/ Ford, who hold a combined 32 percent of the California bank’s shares, have agreed to vote in favor of the sale. The deal is expected to close in the fourth quarter of 2002. -Andrew Lebwohl

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