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Jefferies Group Inc. on April 7 announced that it entered into a definitive agreement to acquire Prudential Bache's global commodities group from Prudential Financial Inc.
The purchase price will be approximately equal to book value, which was $430 million as of Dec. 31, 2010.
The sale includes Prudential Bache Commodities LLC, a U.S.-based full-service futures commission merchant; broker/dealer Prudential Bache Securities LLC; Bache Commodities Ltd., based in the U.K.; and Bache Commodities (Hong Kong) Ltd. The acquired businesses will operate globally as Jefferies Bache following the close of the transaction,...