Regions Financial Could Sell Morgan Keegan Unit, WSJ Reports

Regions Financial Corp. (RF) may sell its Morgan Keegan & Co. unit to Raymond James Financial Inc. (RJF) or Stifel Financial Corp. (SF) for as much as $1 billion, the Wall Street Journal reported, citing unidentified people familiar with the matter.

The sale may fetch between $900 million and $1 billion and may be completed next week, the Journal said. J.P. Morgan Chase & Co. will extend a line of credit of about $900 million to help conclude the transaction, the newspaper said, citing other unidentified people.

To contact the reporter on this story: Christopher Spillane in London at

To contact the editor responsible for this story: Andrew Blackman at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.