Jefferies Group Inc is selling itself to Leucadia National Corp, its biggest shareholder, in a deal aimed at reassuring investors it has access to long-term funding.Leucadia, which models itself on Warren Buffett's Berkshire Hathaway and owns companies ranging from real estate to mining, is paying $2.76 billion in stock for the 71 percent stake of Jefferies it does not own.The deal is the latest sign that Wall Street firms are scurrying to answer investor questions about their funding and long-term profitability in the wake of new rules and regulations.Leucadia had previously purchased one million shares of Jefferies in November 2011 to calm market fears about the firm's viability during the European banking crisis and in the aftermath of the bankruptcy of MF Global.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 0.64% or $815.0/share to $128400.00. In the past year, the shares have traded as low as $110092.00 and as high as $136345.00. On average, 48343 shares of BRK-A exchange hands on a given day and today's volume is recorded at 397.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 0.32% or $0.27/share to $85.45. In the past year, the shares have traded as low as $72.60 and as high as $90.93. On average, 4006430 shares of BRK-B exchange hands on a given day and today's volume is recorded at 1778765.
Jefferies Group, Inc. is a United States-based firm that operates as a securities and investment banking firm. Shares of JEF traded higher by 12.05% or $1.72/share to $15.99. In the past year, the shares have traded as low as $9.50 and as high as $19.82. On average, 2213270 shares of JEF exchange hands on a given day and today's volume is recorded at 18335532.
Leucadia National Corporation (Leucadia) is a holding company. Shares of LUK fell by 4.5% or $-0.98/share to $20.82. In the past year, the shares have traded as low as $19.58 and as high as $29.79. On average, 739253 shares of LUK exchange hands on a given day and today's volume is recorded at 10827296.
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