Perella Weinberg Partners Shares Rise on Report of Takeover by Piper Sandler
Dow Jones
Sep 29
Shares of Perella Weinberg Partners rose sharply in early trading Tuesday after The Wall Street Journal reported that investment bank Piper Sandler is in talks to buy the advisory firm.
Perella shares, which closed Monday at $14.64, were recently changing hands at $16.50, up 13%, while shares of Piper Sandler slipped 4.5% to $68.44.
An agreement to unite two Wall Street firms known for their dealmaking could be finalized soon, people familiar with the matter told The Journal while cautioning that talks could still fall apart.
Piper Sandler, based in Minneapolis, has a market value topping $5 billion, while New York-based Perella sports a market capitalization of $1.4 billion.
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