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Piper Jaffray, Sandler O'Neill + Partners To Combine - Quick Facts

Piper Jaffray Companies (PJC) and Sandler O'Neill + Partners, L.P. have reached a merger deal, under which Piper Jaffray will acquire 100% of the equity and partnership interests in Sandler O'Neill. The consideration will total $485 million. Piper Jaffray will pay $350 million in cash to Sandler O'Neill equity holders and $135 million in restricted consideration to Sandler O'Neill employee partners. The combined company will be named Piper Sandler Companies.

Sandler O'Neill is a leading investment banking firm focused on the financial services industry. The deal, which is anticipated to close in January 2020, would be over 10% accretive to non-GAAP EPS in 2020.

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