Jefferies Shares Spike Amid Buyout Talk From Japanese Lender

Takeover Speculation Emerges Amid Stake BuildAccording to the Financial Times, SMFG, Japan's second-largest lender, has explored plans to position itself for a potential takeover of Jefferies if market conditions create an opportunity, according to people familiar with the matter.SMFG's banking subsidiary already holds a minority stake in Jefferies and has spent several years building its position, initially acquiring about 5% in 2021 and later agreeing to increase its stake to as much as 20%.The firm has r ...