BENGALURU (March 24): Japan's Sumitomo Mitsui Financial Group is working on plans for a possible takeover of US investment bank Jefferies, the Financial Times (FT) reported on Tuesday. SMFG has tasked a team with making sure it is ready to act if Jefferies' falling share price presents an opportunity, the report said, citing people familiar with the matter. Jefferies did not immediately respond to a request for comment, while SMFG was not immediately available for a comment. Any move by Japan's SMFG is not imminent, the report said, adding that there is no certainty if Jefferies executives would be willing to sell at a depressed share price. Jefferies has come under sharp scrutiny over its lending standards and risk appetite after the collapses of British lender Market Financial Solutions and First Brands.

Source: The Edge Markets March 24, 2026 08:29 UTC