Jefferies Announces Completion of Merger of Jefferies Group LLC with and into Jefferies Financial Group Inc.

Rhea-AI Summary

Jefferies Financial Group has completed a significant merger, integrating its wholly owned subsidiary, Jefferies Group LLC, into Jefferies. This strategic move aims to streamline the corporate structure by eliminating duplicative reporting processes, including Form 10-Qs and Form 10-Ks. As a result, all assets and liabilities of Jefferies Group will now be assumed by Jefferies.

This merger enhances operational efficiency and reinforces Jefferies' position as a leading independent investment banking firm.

Positive

• Streamlined corporate structure improving operational efficiency.
• Reduction in duplicative reporting processes.
• All assets and liabilities of Jefferies Group now assumed by Jefferies.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Jefferies Financial Group Inc. (NYSE: JEF, “Jefferies”) announced today that it has completed the merger of its wholly owned subsidiary, Jefferies Group LLC (“Jefferies Group”), with and into Jefferies to streamline and simplify its corporate structure. This merger will, among other things, eliminate the requirement for two sets of Form 10-Qs, Form 10-Ks, and other duplicative processes, and result in Jefferies assuming all of the assets and liabilities of Jefferies Group.

About Jefferies

Jefferies is the largest independent, global, full-service investment banking firm headquartered in the U.S. Focused on serving clients for 60 years, Jefferies is a leader in providing insight, expertise and execution to investors, companies and governments. Our firm provides a full range of investment banking, advisory, sales and trading, research and wealth management services across all products in the Americas, Europe and Asia. Jefferies’ Leucadia Asset Management division is a growing alternative asset management platform.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221031005672/en/

Jefferies Financial Group Inc.:

Jonathan Freedman (212) 778-8913

MediaContact@Jefferies.com

Source: Care of Jefferies Financial Group Inc.

FAQ

What was the purpose of Jefferies' merger with Jefferies Group LLC?

The purpose of the merger was to streamline and simplify Jefferies' corporate structure, eliminating duplicative processes.

How does the merger impact Jefferies' reporting processes?

The merger eliminates the requirement for two sets of Form 10-Qs and Form 10-Ks, resulting in more efficient reporting.

What are the expected benefits of the merger for Jefferies' shareholders?

The expected benefits include enhanced operational efficiency and a stronger integrated platform for investment banking services.

What stock symbol is associated with Jefferies Financial Group?

The stock symbol for Jefferies Financial Group is JEF.

When was the merger between Jefferies and Jefferies Group completed?

The merger was completed on the date of the press release, as announced.