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Sunday, 29 May 2016

Jefferies deal is clever if industrially illogical

Gotta Handler it to them

The Wall Street firm’s $3.8 bln merger with Leucadia combines a Wall Street securities firm with … wait for it … a beef processor and Hard Rock Hotel and casino operator. Loony as it sounds, the deal allows Leucadia to utilize a valuable tax asset and solve a succession problem.

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