Deals
Sterne Agee Said to Be in Talks on Combining With Gleacher
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Sterne Agee Group Inc. is in talks to combine with Gleacher & Co., the investment bank that’s lost $180.4 million since 2009, people familiar with the matter said.
The negotiations may not result in a deal, the people said, asking not to be identified because the process is private. Gleacher said today in a statement that it was in talks on a possible combination with another company, which it didn’t name. The firm also said it’s exiting the fixed-income business, which generated most of its revenue.