By Denny Jacob
StoneX Group agreed to acquire futures brokerage R.J. O'Brien for an equity value of about $900 million.
StoneX, a financial-services network, said Monday that it is funding the deal through a combination of $625 million in cash and about 3.5 million shares of its common stock. The company will also assume up to $143 million of R.J. O'Brien's debt.
New York-based StoneX said the acquisition expands its client float by nearly $6 billion, among other benefits.
The deal is expected to close in the second half of the year.
R.J. O'Brien Chief Executive Gerry Corcoran will continue on with StoneX in a senior leadership role, said the company.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 14, 2025 07:30 ET (11:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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