Published on 12th November 2012
The Leucadia National Corporation said on Monday that it would buy the Jefferies Group in a deal valued at about $3.6 billion. Shareholders of Jefferies will receive 0.81 of a Leucadia share for each of their shares, the announcement said. That represents a 24 percent premium to the closing price of Jefferies on Friday. Leucadia, a conglomerate that has been likened to a “baby Berkshire Hathaway” because of the wide range of its holdings, already owns about 28.6 percent of Jefferies. After the deal closes, Jefferies shareholders will own 35.3 percent of the combined company. [The New York Times]