Piper Jaffray and Sandler O’Neill Reveal Merger Details

Posted on 07/09/2019

Piper Jaffray is an investment bank with origins stemming from the year 1895. Formed in 1988, New York-based Sandler O’Neill + Partners is a full-service investment banking firm and broker-dealer focused on the financial services industry. Sandler O’Neill + Partners is organized as a private partnership. Piper Jaffray Companies plans to acquire 100% of Sandler O’Neill + Partners for a price of US$ 485 million, with US$ 350 million in an upfront cash consideration. The combined company’s name would be Piper Sandler Companies.

Sandler O’Neill employees are expected to collectively own approximately 16% of Piper Sandler Companies in the form of restricted stock issued as transaction consideration and retention incentives.