Stifel Financial Corp . is in exclusive talks to purchase Regions Financial Corp's. Morgan Keegan brokerage, Bloomberg reported on Wednesday. Stifel remains days or weeks away from agreeing to an acquisition and may not reach a deal, the report said, citing people with knowledge of the matter.Regions had 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, Reuters reported earlier this month.Thomas H. Lee Partners and a consortium that includes Blackstone Group and Carlyle Group had submitted bids in the $750 million range that included financing from Regions, sources had told Reuters.Morgan Keegan has a book value of about $1.5 billion, Reuters reported previously.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 0.5% or $-0.07/share to $13.98. In the past year, the shares have traded as low as $10.51 and as high as $19.63. On average, 4160600 shares of BX exchange hands on a given day and today's volume is recorded at 3050973.
Stifel Financial Corp is a financial holding company. Shares of SF fell by 3.01% or $-0.95/share to $30.61. In the past year, the shares have traded as low as $23.09 and as high as $49.94. On average, 486971 shares of SF exchange hands on a given day and today's volume is recorded at 482106.
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