A merger between bond underwriter Jefferies & Co. and Leucadia National Corporation will not affect Jefferies’ municipal bond underwriting operations, a Jefferies spokesman said.
“We anticipate no impact on our municipal bond operations - business as usual!” wrote Jefferies spokesman Richard Khaleel in an e-mail.
Jefferies was the 13th largest senior manager of municipal underwriting deals by par value so far this year, according to ThomsonReuters.
Jefferies will become a subsidiary of Leucadia in the deal.
“Jefferies shareholders (other than Leucadia, which currently owns approximately 28.6% of the Jefferies outstanding shares) will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold,” a Jefferies press release stated. Both companies’ boards of directors have approved the deal. Assuming the companies’ shareholders approve the deal, the deal will close in the first quarter of 2013.