Singapore markets closed
  • Straits Times Index

    3,269.27
    -32.69 (-0.99%)
     
  • Nikkei

    28,546.98
    +727.65 (+2.62%)
     
  • Hang Seng

    20,175.62
    +93.19 (+0.46%)
     
  • FTSE 100

    7,508.45
    +42.54 (+0.57%)
     
  • BTC-USD

    23,932.47
    -493.23 (-2.02%)
     
  • CMC Crypto 200

    568.95
    -5.79 (-1.01%)
     
  • S&P 500

    4,207.27
    -2.97 (-0.07%)
     
  • Dow

    33,336.67
    +27.16 (+0.08%)
     
  • Nasdaq

    12,779.91
    -74.89 (-0.58%)
     
  • Gold

    1,802.20
    -5.00 (-0.28%)
     
  • Crude Oil

    94.40
    +0.06 (+0.06%)
     
  • 10-Yr Bond

    2.8880
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,506.19
    +0.63 (+0.04%)
     
  • Jakarta Composite Index

    7,129.28
    -31.11 (-0.43%)
     
  • PSE Index

    6,699.66
    +18.98 (+0.28%)
     

Jefferies Pops As Sumitomo Mitsui Agrees To Take Stake

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

By Dhirendra Tripathi

Investing.com – Jefferies Financial (NYSE:JEF) rose 8% Wednesday as Japan’s Sumitomo Mitsui Financial Group (NYSE:SMFG) agreed to acquire up to 4.9% in the company for approximately $386 million.

Sumitomo will buy Jefferies shares from the open market.

SMBC Group will also provide $1.9 billion in credit facilities to Jefferies Finance and $350 million to Jefferies Group.

A note issued by the companies said they will jointly pursue investment banking, capital markets and financing opportunities by leveraging both companies’ strengths, initially in the U.S. healthcare sector.

Japanese banks are returning to the U.S. market in search of growth and deal-making opportunities.

Related Articles

Jefferies Pops As Sumitomo Mitsui Agrees To Take Stake

Israel stocks lower at close of trade; TA 35 down 0.21%

Stocks rebound, yields fall on Powell's dovish remarks

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting