On January 11, 2012, Florida-based Raymond James Financial, Inc. (NYSE: RJF) announced that it will expand its private client wealth management and capital markets businesses through the acquisition of Morgan Keegan & Company, Inc. from Regions Financial for $930 million.
On January 11, 2012, Raymond James Financial, Inc. (NYSE: RJF) announced that it had entered into a definitive stock purchase agreement to acquire Morgan Keegan & Company, Inc. and its affiliates from Regions Financial for a purchase price of $930 million. The acquisition will expand its private client wealth management and capital markets businesses. Raymond James is a Florida-based diversified holding company providing financial services through its subsidiaries which, in total, manage approximately $35 billion in assets. Morgan Keegan is based in Memphis, Tennessee, where Raymond James will continue to operate its Fixed Income and Public Finance businesses. The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close on March 30, 2012.
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