Macquarie said in talks to buy Jefferies' futures arm

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Macquarie Group is said to be in talks to buy Jefferies Group's commodities and financial derivatives brokerage, three sources told Reuters, as the Australian bank continues to expand its commodities business while rivals retreat.

The news agency reports that the Australian bank is one of several suitors interested in a business that was built largely around Prudential Bache, one of the world's oldest commodities futures brokers.

Jefferies bought PruBache four years ago, but the business struggled in an increasingly tough regulatory environment. It suffered more recently from heavy losses tied to a bunker fuel bankruptcy.

A deal could be possible in the next few months, said the sources, who are unauthorized to speak to the media.

Hit the link below to access the complete Reuters article:

Macquarie in talks to buy Jefferies' futures arm - sources

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