Securities and investment banking firm Jefferies Group Inc (JEF.N) is planning to buy Prudential Financial Inc's (PRU.N) commodities and financial derivatives business for about $400 million, the Wall Street Journal said, citing people familiar with the matter. The 400 person strong Prudential Bache would be renamed Jefferies Bache, WSJ said, citing these people. The deal, which could be announced as early as Thursday, underlines Jefferies' ambitions to grow to a full-service investment bank from a securities-industry boutique, WSJ said. The newspaper also said the transaction would give Jefferies exposure in exchange-traded futures and over-the-counter swaps in energy, metals and agricultural markets.
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