NEW YORK, April 7, 2011: Jefferies Group, Inc. announced today that it has entered into a definitive agreement to acquire Prudential Bache's Global Commodities Group from Prudential Financial, Inc. for a purchase price equal to tangible book value, or approximately $430 million. Through its Futures Commission Merchant, Prudential Bache Commodities LLC, Prudential Bache offers brokerage and clearing services in listed derivatives on all major futures and options exchanges around the world. Prudential Bache also offers over-the-counter trading in foreign exchange, base and precious metals, and energy and agricultural swap transactions.
Morgan Lewis represented Jeffries in the transaction. The team on the deal was led by Business & Finance partners R. Alec Dawson and Thomas D'Ambrosio, assisted by associate Sheryl Orr.