Leucadia says boosts Jefferies stake to 30 pct

Always keep an eye on what Leucadia (LUK) is up to:

Leucadia National Corp, a holding company engaged in several businesses, disclosed on Monday it boosted its equity stake in U.S. investment bank Jefferies Group Inc to 30 percent.
Leucadia, in a filing with the Securities and Exchange Commission, said in April it acquired a 14 percent stake in Jefferies for $434 million after the banking and trading firm, which focuses on mid-cap and small companies, reported a second straight quarterly loss.
Those shares, combined with previously purchased Jefferies stock, gave Leucadia, a New York investment firm, a 20 percent stake.
According to the latest filing, since April 21 Leucadia acquired an additional 17.7 million shares on the open market for $321.9 million, raising its stake to 48.6 million shares. That equates to a 30 percent stake as of May 14.
In all, Leucadia says it has invested $794.4 million in Jefferies stock.

Posted by on June 2nd, 2008 at 12:34 pm


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