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Sumitomo Mitsui Eyes Jefferies Amid Scrutiny and Lawsuits

3/24/2026

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Summary

Story summary

Sumitomo Mitsui Financial Group (SMFG) is exploring a potential Jefferies takeover, per Financial Times.
SMFG has assembled a team to monitor Jefferies' situation.
Jefferies' shares rose 6% after the report, while the stock has fallen 36% this year.
There is no immediate takeover plan, and Jefferies faces scrutiny over lending practices and is being sued by investors who allege fraud related to a fund tied to the bankrupt First Brands.

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Story summary

Sumitomo Mitsui Financial Group (SMFG) is exploring a potential Jefferies takeover, per Financial Times.
SMFG has assembled a team to monitor Jefferies' situation.
Jefferies' shares rose 6% after the report, while the stock has fallen 36% this year.
There is no immediate takeover plan, and Jefferies faces scrutiny over lending practices and is being sued by investors who allege fraud related to a fund tied to the bankrupt First Brands.