Jefferies Shares Climb on Takeover Interest by Sumitomo Mitsui Financial Group

By Connor Hart

Shares of Jefferies Financial Group were higher after the Financial Times reported that Japan's Sumitomo Mitsui Financial Group is working on plans for a possible takeover.

The stock rose 9.5%, to $43.30, in premarket trading Tuesday. Through Monday's close, shares have lost more than a third of their value over the past year.

SMFG, whose Sumitomo Mitsui Banking subsidiary holds a minority stake in Jefferies, has tasked a small team to be ready to act if the U.S. investment bank's share price presents an opportunity, the report said, citing sources.

Any move by SMFG isn't imminent, and it is unclear whether Jefferies' executives would be willing to sell at a depressed share price, according to the FT.

Write to Connor Hart at [e-mail]

(END) Dow Jones Newswires

03-24-26 0639ET