Jefferies Shares Surge on Report of Japan's SMFG Preparing for Potential Buyout
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Shares of Jefferies surged approximately 10% in premarket trading on Tuesday following reports that Japan's Sumitomo Mitsui Financial Group is considering a potential buyout. The Japanese banking giant already owns nearly 20% of Jefferies, which has seen its stock price decline 36% year-to-date.
Jefferies' shares rallied 10% in premarket trading on Tuesday. This surge follows reports that Sumitomo Mitsui Financial Group is considering a buyout. SMFG already owns nearly 20% of Jefferies. The Japanese banking giant initially acquired a 5% stake in 2021. Jefferies' stock has declined 36% year-to-date. The company's first-quarter financial results are scheduled for release on March 25.
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