MoFo Aids Raymond James In $930M Morgan Keegan Deal

Law360, New York (January 11, 2012, 8:04 PM EST) -- Raymond James Financial Inc. has agreed to buy brokerage and investment banking firm Morgan Keegan & Co. Inc. from bank holding company Regions Financial Corp. for $930 million, expanding its wealth management and capital markets businesses, the companies announced Wednesday.

The all stock purchase is expected to close on or around Mar. 30, pending customary regulatory approvals, according to Raymond James.

Morgan Keegan will also pay Regions a dividend of $250 million before closing, resulting in total proceeds for Regions of $1.18 billion, Regions said....
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