THE DEAL: Leucadia National Corp. is buying the investment banking firm Jefferies Group Inc. for about $2.8 billion in stock in a deal executives said Monday would better position both companies for growth in the years ahead.
THE BUYER: Leucadia is a diversified holding company with more than $9 billion in assets, ranging from lumber and plastics manufacturers, energy production facilities and an oil and gas contract driller to medical product developers, a hotel and casino, wineries and other real estate interests. Jefferies will be its largest business.
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