Jefferies

Happy Holidays from Jefferies! To our friends, clients, and partners — thank you for your continued trust and support. Wishing you a joyful holiday season and a successful year ahead!

We are pleased to welcome Kate Haviland to Jefferies as a Senior Advisor. A widely respected leader in the biopharma industry, Kate brings a powerful combination of strategic insight, operational excellence, and commitment to innovation. She has served as Chief Executive Officer at Blueprint Medicines for nearly four years, guiding the company through a period of exceptional growth and transformation. #WelcometoJEF

Jefferies is pleased to have served as the exclusive financial advisor to Abry Partners on its strategic partnership with The AA (Ireland), a leading provider of roadside assistance and insurance solutions across Ireland. The partnership will expand AA Ireland’s service centers, digital capabilities, and insurance offerings nationwide. This announcement underscores Jefferies’ strength in advising on important cross-border partnerships and investments within the insurance and mobility sectors.

Jefferies has recently learned that unknown persons are using the Jefferies name and the names and photographs of Jefferies employees, without authorization, to offer investment clubs or other investments or employment to individuals around the world, likely for fraudulent purposes. The persons are using the Jefferies name to impersonate Jefferies on fake websites, fake mobile device software, unauthorized accounts on WhatsApp, Telegram and Instagram and unauthorized promotional items such as water bottles and other items, often in Portuguese. Jefferies does not solicit investors through WhatsApp or other social media.

Jefferies congratulates Merus (NASDAQ:MRUS) on the Company’s $8.0 Billion sale to Genmab (CPSE:GMAB). We are honored to be serving as Financial Advisor to Merus on this transaction. The transaction represents the largest clinical stage oncology transaction since January 2018 and second largest clinical stage oncology transaction of all time, per BioMedTracker. Jefferies has now advised on three of the four largest biopharma M&A transactions announced since December 2023, reinforcing our leadership in the sector and underscoring Jefferies’ role as a trusted, long-term partner of choice for mission-critical, transformative strategic transactions in biopharma.

Randy Konik, Jefferies Research Analyst covering Lululemon, joined @CNBC's Fast Money to discuss the company's quarterly earnings, along with the broader retail space. Watch here: spklr.io/6019BHvQf

More than 40 million Americans own crypto. But without proper planning, these valuable digital assets could be lost forever. Alan Wolberg, Private Wealth Strategist for Jefferies breaks down how to protect your digital wealth and why estate planning for crypto can’t be an afterthought. spklr.io/6014BHztj

As investors wrestle with portfolio decisions in light of geopolitical risk, valuations, and growth outlooks, Ryan Casper , Head of Advisory and Traditional Manager Investment Research for Wealth Management, provides a forward-looking framework for equities success. spklr.io/6013BHzhN

Chris Wood, Jefferies' Global Head of Equity Strategy, was featured in The Economic Times following his keynote and panel appearance at the ET World Leaders Forum, where he joined global leaders and policymakers to discuss the future of capital flows and global growth. In his keynote, Chris explored themes around global trade dynamics, the impact of emerging technologies on market cycles, and shifting currency trends. Chris also spoke about India's economic trajectory, touching on themes such as domestic capital flows, market transparency, and the evolving role of private-sector investment. Chris will continue the conversation at the Jefferies India Forum, taking place September 16–18, where he’ll dive deeper into these themes and India’s evolving role in global markets. #ETWLF #ETWorldLeadersForum Watch the keynote here: spklr.io/6015BHzVb

Jefferies is pleased to have served as Exclusive Financial Advisor to MannKind Corporation on its $360 million acquisition of scPharmaceuticals. This transaction will enable MannKind’s strategic expansion into cardiorenal medicine and establish the company’s cardiometabolic business, alongside its orphan lung division. The deal highlights Jefferies’ strength in the specialty pharma and biopharma sectors, as well as the strength of the Jefferies platform to serve public companies for public market M&A, leveraging our leading Investment Banking and Equities franchises to serve our clients.

Congratulations to Verint (NASDAQ: VRNT) on its announced $2.0 billion sale to Thoma Bravo, which intends to have Verint join forces with its existing portfolio company, Calabrio, Inc. We are proud to serve as the Financial Advisor to Verint. This transaction demonstrates continued leadership for Jefferies in the Customer Experience software segment and broader software segments, particularly amidst the advancement of AI.

As the US economy shows signs of slowing and rate cuts loom on the horizon, municipal bonds have become increasingly more attractive. Gregory Kaplan, Global Head of Fixed Income Portfolio Management for Jefferies Wealth Management, breaks down where he sees opportunity for investors over the next 12 months. Read here: spklr.io/6049BG7OL

Recently, Fed Chairman Jerome Powell made a shift in stance with nuanced policy guidance that supports our expectation for 3 rate cuts this year. Jefferies Research Strategist Jane Gibbons covers this and more in this week’s JEFMacro Weekly. See the full JEF Macro Weekly here: spklr.io/6012BGA5E

Jefferies Research Analyst Corey Tarlowe, who covers Discount & Specialty Retail, recently joined @YahooFinance's Market Catalysts to discuss his view on Walmart and Target's earnings. Watch the full interview here: spklr.io/6011BGfxz

The credit secondaries market is surging and should be the fastest-growing segment of the secondaries market for years to come. A record number of investors entered the market for credit secondaries in 2024, a year marked by several marquee transactions and the growth in general partner (GP)-led deals, including continuation vehicles. Halfway through 2025, this trend continues to accelerate at a fast pace. Jefferies Private Capital Advisory explores this shift in the market: spklr.io/6016BGqFj

Jefferies Research Analyst Corey Tarlowe, who covers Discount & Specialty Retail, recently joined @YahooFinance's Market Catalysts to discuss his view on Walmart and Target's earnings. Watch the full interview here: spklr.io/6018BGUFk

In Switzerland, total M&A deal value grew significantly last year, thanks to larger average deal sizes. There were 464 M&A deals in 2024 — down 4 percent from the year before — but total value surged more than 50 percent, from $72 billion to $115 billion. That momentum is starting to show up in this year's market as one of 2025's standout transactions just closed — SoftwareOne’s public takeover of Crayon advised by Jefferies. The deal brings together two major players in software and cloud solutions. Read more about it here: spklr.io/6017BGUUH

Jefferies’ Mid-Year Policy Update highlights a sharp drop in economic policy uncertainty, a more assertive industrial strategy, and early signals from the federal AI agenda. From deregulation to defense-linked investments, the second half of 2025 will be shaped by how Washington’s policies intersect with markets. Read more: spklr.io/6013BGg9Z

Secondary markets are offering precisely what evergreen vehicles need: mature, cash-flowing assets that enable them to deploy capital quickly and diversify broadly. Jefferies estimates that approximately 41% of evergreen NAV is now allocated to secondaries, reflecting a deliberate strategy to match investor demand for liquidity and immediacy with seasoned private equity exposure. Chad Berger, Senior Vice President in our Private Capital Advisory, dives into the connection between evergreen vehicles and the secondaries market: spklr.io/6017BGg9J