Materials M&A » By The Online Investor Staff, updated Fri., Apr. 26, 1:57 AM
Recent mergers and acquisitions in the Materials M&A category.
| This Slide: #70 of 80 |
Slide #70. Leucadia National Corporation — Jefferies Group, Inc.
Acquirer:
Leucadia National Corporation (LUK)
Acquiree:
Jefferies Group, Inc. (JEF)
Details:
Leucadia National Corporation and Jefferies Group, Inc. announced that the Boards of Directors of both companies have approved a definitive merger agreement under which Jefferies' shareholders (other than Leucadia, which currently owns approximately 28.6% of the Jefferies outstanding shares) will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold. This exchange is intended to be tax-free to Jefferies' shareholders. The merger, which is expected to close during the first quarter of 2013, is subject to customary closing conditions, including approval to effect the merger by both Leucadia and Jefferies shareholders. In order to avert the possibility that the transaction would result in the application of tax law limitations to the use of certain of Leucadia's tax attributes, the merger agreement limits the amount of Leucadia shares that can be issued to certain persons that would otherwise become holders of 5% of the combined Leucadia's common shares by reason of the merger.
Jefferies Financial Group is a holding company. Co.'s financial services businesses include Jefferies (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking, investment sales and servicing), FXCM Group, LLC (provider of online foreign exchange trading services), HomeFed (a real estate company) and Foursight Capital (vehicle finance). Co. also owns and has investments in an array of other businesses, including beef processing, insurance and consumer products, oil and gas exploration and development, automobile dealerships, fixed wireless broadband services in Italy, manufacturing, and a gold and silver mining project.
Open the LUK Page at The Online Investor »
Jefferies Financial Group is a holding company. Co.'s financial services businesses include Jefferies (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking, investment sales and servicing), FXCM Group, LLC (provider of online foreign exchange trading services), HomeFed (a real estate company) and Foursight Capital (vehicle finance). Co. also owns and has investments in an array of other businesses, including beef processing, insurance and consumer products, oil and gas exploration and development, automobile dealerships, fixed wireless broadband services in Italy, manufacturing, and a gold and silver mining project.
Open the JEF Page at The Online Investor »
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