Wall Street minnows pitch merger nirvana

  • 📰 Breakingviews
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

Piper Jaffray announced a $485 million purchase of Sandler O'Neill, a deal expected to boost the investment bank's return on equity. The merger makes sense for Piper Jaffray, but it’s not enough to transcend its peer group’s performance. AntonyMCurrie

Middle-market U.S. investment bank Piper Jaffray has agreed to buy privately held Sandler O’Neill for $485 million, the two firms said on July 9. The combined company will be called Piper Sandler.

Owners of Sandler O’Neill will receive $350 million in cash when the deal closes. In addition, the target’s “employee partners” will receive $135 million in primarily restricted stock. Piper Jaffray is also setting aside $115 million for long-term retention incentives, mostly in restricted stock.

Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 470. in RU
 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки

Россия Последние новости, Россия Последние новости