01.13.26

US Bancorp To Buy BTIG for Up to $1 Billion

by: Colin Kellaher

U.S. Bancorp agreed to acquire BTIG, a New York–based financial services firm, for up to $1 billion in cash and stock, strengthening its investment banking and capital markets capabilities. The deal includes an upfront $725 million payment, with up to $275 million more tied to performance over three years, and is expected to close in the second quarter. BTIG, which has more than 700 employees and generated about $750 million in adjusted net revenue last year, will add institutional equity trading, research, deal advisory and capital markets expertise, building on a partnership between the two firms that began in 2014.

Read the full article on The Wall Street Journal