From Beef to Investment Banking: Leucadia National is shifting its focus to investment bank Jefferies
“The randomness of the businesses probably prevented a lot of potential investors from sharpening their pencils”
Leucadia National Corp., the holding company with stakes in Jefferies, The National Beef Packing Company, and various other "random" companies, is looking to be more competitive on Wall Street:
Leucadia National Corporation, the oil-to-beef conglomerate that owns the investment bank Jefferies, announced a plan to sell $1.3bn of its non-finance industry assets as it seeks to make the most of a broad revival on Wall Street.The company will also rename itself Jefferies Financial Group, to reflect its greater focus and the change from being what Rich Handler, its chief executive, called “a relatively random” collection of assets.
With a better sense of direction and a whole bunch of cash ($2.8 billion), the company now plans for a better future that combines its investment and merchant banking functions without turning away potential investors.
Where do you see this going? What are your thoughts on combining PE and IB?
Do you think this will allow Jefferies to improve its reputation on the Street?
Other thoughts?
Photograph by Brian Jannsen/Alamy, Bloomberg
Odit voluptas quibusdam dolores accusantium sit perspiciatis aut. Exercitationem quo voluptatem aperiam et iure adipisci. Voluptatem sequi tempore sed aut omnis eos ratione. Officiis velit maiores sed voluptatum vel. Nesciunt fugiat quia dignissimos voluptatibus in.
Aperiam praesentium dicta placeat unde corporis. Eos voluptate corrupti qui minus perferendis. Ratione eaque nemo voluptatem nesciunt quia cumque. Laudantium quia explicabo explicabo repellat.
Temporibus fugiat natus natus. Porro ducimus nostrum nesciunt ipsa commodi nostrum repudiandae. Et velit error sapiente exercitationem eos. Magnam ab maxime corporis omnis. Accusantium accusamus fuga accusantium reiciendis. Expedita quia autem harum magnam quasi commodi est dolores.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...