New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 28, 2013
15:31 EDTLUK, JEFLeucadia, Jefferies announce shareholders approve merger
Leucadia National Corporation (LUK) and Jefferies Group (JEF) announced that the stockholders of Jefferies and the shareholders of Leucadia approved the merger between the two companies pursuant to which Jefferies’ stockholders will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they held and that the merger will be consummated effective March 1. In connection with the merger, Jefferies is also converting to a limited liability company, Jefferies Group LLC, which will be a subsidiary of Leucadia and will continue to be an SEC reporting company, regularly filing annual, quarterly, and periodic financial reports. Richard Handler, in addition to continuing in his role as CEO and Chairman of Jefferies, will become the CEO of Leucadia and one of its Directors. Brian Friedman, in addition to continuing in his role as Chairman of the Executive Committee of Jefferies, will become Leucadia’s President and one of its Directors. Joseph Steinberg, in addition to continuing to work full-time as an executive of Leucadia, will become Chairman of the Board of Leucadia. Ian Cumming will retire as Chairman of the Board and CEO of Leucadia but will continue in his role as a director of Leucadia.
News For JEF;LUK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 16, 2014
07:46 EDTLUKJefferies says pursuing strategic alternatives for Bache business
Jefferies says "As a result of the growth and margin challenges we have recently faced in the Bache business we acquired in mid-2011, we are pursuing strategic alternatives for this business, and discussions with third parties in this regard are already underway. We are focused on the potential combination of Bache with another similar business that improves the combined businesses’ competitive standing and margin. In connection with this, we have reversed the entire $52M in goodwill and $8M of the intangible assets that were both allocated to the Bache business as a function of the purchase accounting that arose upon our 2013 transaction with Leucadia."

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use