Leucadia National NYSE:LUK buys Jefferies NYSE: JEF, US$3.6-B
Leucadia National NYSE:LUK buys Jefferies NYSE: JEF, US$3.6-B
BRK-A, BRK-B
Investment company Leucadia National Corp said it will buy Jefferies Group Inc in a deal that values the investment bank at $3.6-B.
Leucadia, which has been called a mini Berkshire Hathaway NYSE:BRK-A for its holdings ranging from real estate to mining, already owns about 29% of Jefferies.
The deal is aimed at strengthening Jefferies’ balance sheet and bolstering investor confidence because of the company’s relatively high risk profile. The bank has been trying to turn itself into a full-service investment bank instead of a niche player that focused on areas like underwriting junk bonds.
But its balance sheet has held it back, particularly in areas like trading. Moody’s Investors Service downgraded Jefferies in October to just a step above junk status, saying its growth has added to its risk.
Under the agreement, Jefferies shareholders will receive 0.81 of a Leucadia share for each Jefferies share held, valuing Jefferies at 17.66 per share, a premium of 24$ to its Friday closing price of 14.27.
Gain Access to the Latest Charting and News Technology, trade better faster, Runs on Your Desktop and your iPad , a Must for all Serious traders, Get your first month free of Live Trading News Thomson Reuters Eikon for Retail Traders
Related Articles
Harry Winston buys BHPs NYSE:BHP Canadian Diamond Mine
November 14th, 2012
More News
Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com
Singapore
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
1 of 6
Change Your Life, Become a Professional Trader
Live on the beach, travel where ever you want, never have to worry about reporting in to the office, more than a dream it is a reality for many.
While I am involved on a …
Commentary
Investor Services
Best Hedge Funds 2013
Working with some of the World’s largest financial institutions HCM’s goal is to provide portfolio returns that exceed the S&P 500 Index benchmark while …
Shayne Heffernan: How to Develop an Inflation Hedge 2013
QE1, QE2, QE3, the Bernanke “Twist” and QE4 are pumping out money at a rate never before seen in …
Chopard Jewels Robbed from Hotel Room at Cannes Film Festival
$1-M worth of Chopard jewelry has been stolen at the Cannes Film Festival.
French police confirmed to …
The Hot List
Enviro-Serv Inc (OTCMKTS:EVSV), Medical Marijuana Inc (OTCMKTS:MJNA)
Enviro-Serv Inc (OTCMKTS:EVSV)
EVSV had a stellar dy yesterday, ut it looks like it is just the begining of big things, good …
shoutbox
Guest: bztg, come on shane, lite this puppy up. been waiting too long lets go!!!
Tue, 04/30/13 | 0 Comment
674 
69 
Guest: gsat get it now. if u snooze u lose
Fri, 04/19/13 | 0 Comment
1090
106
