Takeover talk is swirling around Jefferies following a report that Japan’s Sumitomo Mitsui Financial Group is exploring a potential purchase of the investment bank.
Citing people familiar with the matter, The Financial Times reported Tuesday that SMFG has directed a small team to ensure that the lender is ready to act if Jefferies’ share price “presents an opportunity.”
Jefferies shares (ticker: JEF) have fallen 34% in 2026 amid scrutiny over its exposure to bankrupt auto parts manufacturer First Brands, although the stock rallied more than 3% Tuesday in the wake of the Financial Times report. The report also said that a move by SMFG is not imminent and that any takeover would have to overcome regulatory barriers.
Bloomberg, itself citing people with direct knowledge of the matter, reported Tuesday that SMFG is said to have no immediate plans to take over Jefferies.
“No comment from us,” said a Jefferies spokesperson when contacted by InvestmentNews.
"We have no comment at this time," a spokesperson for SMFG told InvestmentNews.
There are existing links between the two companies. SMFG’s Sumitomo Mitsui Banking Corporation subsidiary entered into a strategic alliance with Jefferies in 2021. Last year SMBC increased its equity stake in Jefferies to 20%. SMBC also provided Jefferies with approximately $2.5 Billion in new credit facilities.
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