Regions Financial Corp has re-opened talks with rival Stifel Financial Corp to bolster the unit's auction, sources familiar with the matter said.Regions resumed talks with Stifel after offers from two potential private-equity groups came in lower than expected amid tight financing markets and challenging operational environment for Morgan Keegan, the sources said.Thomas H. Lee Partners and a consortium that includes Blackstone Group and Carlyle Group submitted bids in the $750 million range that included financing from Regions, one of the sources said.Morgan Keegan has a book value of about $1.5 billion, sources have said previously.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 8.54% or $-1.25/share to $13.39. In the past year, the shares have traded as low as $11.22 and as high as $19.63. On average, 4567740 shares of BX exchange hands on a given day and today's volume is recorded at 3980381.
Regions Financial Corporation (Regions) is a financial holding company. Shares of RF fell by 6.85% or $-0.3/share to $4.08. In the past year, the shares have traded as low as $3.02 and as high as $8.09. On average, 27167800 shares of RF exchange hands on a given day and today's volume is recorded at 40650136.
Stifel Financial Corp is a financial holding company. Shares of SF fell by 5.05% or $-1.62/share to $30.45. In the past year, the shares have traded as low as $23.09 and as high as $49.94. On average, 603334 shares of SF exchange hands on a given day and today's volume is recorded at 616452.
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