Financial Times: Leucadia36 one hundred million U.S. dollars acquisition of an independent investment bank Jefferies

The enterprise group Leucadia National agreed to independent investment bank Jefferies acquisition in the form of an all-stock transaction, which is the nation's largest securities dealer, the transaction value of approximately $ 3.6 billion. The transaction highlights the challenges faced by the Wall Street independent investment bank. Prior to the acquisition, Jefferies has experienced a period of uncertain times. Securities and Exchange rival MF Global bankruptcy last year after Jefferies suffering a funding crisis. Although the acquisition valuation is relatively high, compared to last Friday's closing market capitalization of $ 2.9 billion, a premium of up to 24%, but Jefferies and the Leucadia merger may lead to a guess about other independent investment banks in the capital market financing prospects. Because they do not belong to the bank holding company, so they are called independent investment banks. These banks operating conditions and predict the opposite. Originally, the market is expected to the 多德弗兰克 Act reform after 2010, due to the regulatory limit for larger competitors, they are supposed to benefit from. Last week, a smaller investment bank KBW to Stifel Financial acquisition.