Market Overview

Piper Jaffray To Acquire Sandler O'Neill For $485M

Piper Jaffray To Acquire Sandler O'Neill For $485M

Piper Jaffray Companies (NYSE: PJC) said Tuesday it will acquire Sandler O’Neill + Partners, L.P. for a total of $485 million.

The combined company will be known as Piper Sandler Companies.

Piper Jaffray said it will acquire 100% of the equity and partnership interest in Sandler O’Neill.

The new company’s goal is to prioritize and build its M&A advisory business and expand the breadth and depth of the firm’s equity research, and sales and trading franchise, according to Piper Jaffray. 

The transaction will total $485 million. The transaction includes $100 million of tangible book value on the Sandler O’Neill balance sheet delivered at the time of closing. Piper Jaffray will pay $350 million cash to Sandler O’Neill equity holders at the time of closing; and $135 million in restricted consideration, primarily in restricted stock of Piper Jaffray companies, to Sandler O’Neill employee partners.

Piper Jaffray has agreed to provide $115 million in long-term retention incentives, primarily in restricted Piper Jaffray stock, to Sandler O’Neill employees.

On Tuesday, Piper Jaffray shares were trading at around $73.88. The stock has a 52-week high of $82.52 and a 52-week low of $61.35.

Related Links:

Gardner Denver To Purchase Sweden-Based Oina For $10M

Crane Raises Acquisition Offer For Circor

Photo courtesy of Piper Jaffray. 

Posted-In: Sandler O'NeillM&A News Best of Benzinga


Related Articles (PJC)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

As Investors Await Fed Chair Testimony Wednesday, PepsiCo Delivers Strong Results

Judge Rules Against Trump Proposal Forcing Pharma Companies To Disclose Drug Prices In Commercials