Industry analysts continue to debate over who will acquire Regions Financial’s brokerage firm, Morgan Keegan, but nobody is commenting or confirming anything.
The haggle is obviously over price, but it looks doubtful it will be the $1 billion that Regions is looking for.
After all, this has been in the works for over six months now and ever since the failure to solicit private equity investors and failed promises to their advisors, the obvious is out there.
Either deal — with Stifel or Raymond James, is going to mean a different operation and more change and my gut feeling is they’ll lose a lot of advisors…they are already making calls and looking around.
Raymond James acquires Morgan Keegan for $930 million. Read more here…