Perella Weinberg

“Piper Sandler (NYSE: PIPR) is in talks to buy advisory firm Perella Weinberg Partners (Nasdaq: PWP), per the WSJ.”

“Piper Sandler shares fell nearly 10% yesterday on the news, giving it a $4.6 billion market cap. Perella Weinberg shares surged nearly 12%, pushing its market cap above $1.5 billion.”

“Earlier this year, it struck a deal for the U.K.-based advisory firm Gleacher Shacklock, and last year it agreed to acquire secondary advisory firm Devon Park Advisors.”