Leucadia Takes on Jefferies for $2.6B in Stock

NEW YORK CITY-Jefferies Group’s acquisition Monday by Leucadia brings together two major financial firms with significant real estate business. Jeffries will operate as Leucadia’s largest operating company following the deal’s close in early 2013. It will continue to operate as a full-service global investment-banking firm in its current form. Leucadia, which already held a 28.6 percent stake in Jeffries, is acquiring the firm for about $2.6 billion in stock.

The two firms have had a working relationship for more than 20 years. They have partnered on many financings and strategic transactions. Combined, the two firms have total assets of $42.1 billion and total shareholder equity of $9.3 billion.