Acording to the NY Post Wall Street’s damsels are turning to white knights. In the latest move, Jefferies Group yesterday agreed to be scooped up by investing conglomerate Leucadia National Corp. for nearly $4 billion. The acquisition will place Jefferies CEO Rich Handler, 51, in the unique position at the helm of his firm’s acquirer — with Leucadia CEO and Chairman Ian Cumming, 71, expected to retire at year’s end. Some feel the CEO position will help Handler pursue an acquisition-and-growth strategy. Cumming will stay on as a director.
Jefferies’ moves comes three months after Knight Capital,
which was on the brink of filing for bankruptcy after a technical glitch in its
trading program blew a hole in its balance sheet, turned to a consortium of
investors including Jefferies, Blackstone, Getco and TD Ameritrade to bail it
out….
Read all about it at http://www.nypost.com/p/news/business/mon_re_cue_me_6wM9WMvVTepefDY8lJwRYJ
No comments:
Post a Comment