Jefferies shares surge on report of Japan's SMFG preparing for potential buyout
Jefferies shares surged 10% in premarket trading after a report that Japan's Sumitomo Mitsui Financial Group is preparing for a potential takeover. The US investment bank has faced investor concerns over its lending standards and risk appetite, with its shares falling 36% so far this year.
Jefferies shares rose 10% in premarket trading on a report that Sumitomo Mitsui Financial Group is planning a potential takeover. SMFG owns 20% of Jefferies and has assembled a team to prepare for a move if the share price drops. Jefferies has faced investor concerns over its lending standards and risk appetite. The bank's shares have fallen 36% this year due to exposure to collapsed companies. Jefferies is set to report earnings, with analysts expecting a surge in profit. Any potential deal would face regulatory scrutiny and cultural differences.
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