Raymond James, Stifel Vie for Morgan Keegan
Raymond James Financial Inc. (RJF) resumed talks to buy Regions Financial Corp. (RF)’s Morgan Keegan brokerage unit, setting up a bidding contest with Stifel Financial Corp., said three people with knowledge of the matter.
A period of exclusive negotiations with Stifel, based in St. Louis, has expired, allowing Raymond James to revive discussions, said two of the people, who spoke on condition of anonymity as the matter is private. Neither is likely to reach a deal for Memphis, Tennessee-based Morgan Keegan before the end of the year, the people said.
Jana Strange, a spokeswoman for St. Petersburg, Florida- based Raymond James, declined to comment, as did Evelyn Mitchell, a spokeswoman for Birmingham, Alabama-based Regions. A spokeswoman for Stifel (SF) didn’t immediately return a call seeking comment.
To contact the reporter on this story: Zachary R. Mider in New York at zmider1@bloomberg.net
To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.