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Stock Market & Financial Investment News

News Breaks
February 1, 2013
16:07 EDTJEF, LUKLeucadia declares spin-off dividend of Crimson Wine shares
The board of Leucadia National Corporation (LUK) declared a pro rata dividend of all of the shares of common stock of its wholly-owned subsidiary, Crimson Wine Group, which holds all of Leucadia's wine operations. The dividend will result in the separation of the two companies, as required by the merger agreement between Leucadia and Jefferies Group (JEF). On the distribution date, which is expected to be February 25, Leucadia shareholders of record as of 5 p.m. EST on February 11, will receive one share of Crimson common stock for every 10 Leucadia common shares they hold, with cash in lieu of fractional shares to be distributed thereafter.
News For LUK;JEF From The Last 14 Days
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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."

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