Investment company Leucadia National Corp said it will purchase Jefferies Group Inc in a deal that values the investment bank at $3.6 billion.Leucadia, which has been called a mini Berkshire Hathaway for its holdings ranging from real estate to mining, already owns about 29 percent of Jefferies.The deal is aimed at strengthening Jefferies' balance sheet and bolstering investor confidence because of the company's relatively high risk profile. The bank has been trying to turn itself into a full-service investment bank instead of a niche player that focused on areas like underwriting junk bonds.But its balance sheet has held it back, particularly in areas like trading. Moody's Investors Service downgraded Jefferies in October to just a step above junk status, saying its growth has added to its risk.
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 0.38% or $484.3906/share to $128069.39. 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 180.
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 0.04% or $0.03/share to $85.21. 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 769414.
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 10232177.
Leucadia National Corporation (Leucadia) is a holding company. Shares of LUK fell by 4.59% or $-1.0/share to $20.80. 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 7298627.
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