Key Developments: Leucadia National Corp (LUK)
31.55USD
22 May 2013
$-0.02 (-0.06%)
$31.57
$31.58
$31.99
$31.51
731,712
1,971,750
$32.43
$19.58
Latest Key Developments (Source: Significant Developments)
Leucadia National Corp Announces Quarterly Cash Dividend
Leucadia National Corp announced that Board of Directors has declared a quarterly cash dividend equal to $0.0625 per Leucadia common share payable on June 28, 2013 to record holders of Leucadia common shares on June 17, 2013. Full Article
Leucadia National Corp Announces Management Change-Form 8-K
Leucadia National Corp reported in its Form 8-K that following the completion of the transactions, Mr. Handler, was appointed Chief Executive Officer (CEO) of Leucadia, and remains the Chairman and Chief Executive Officer (CEO) of Jefferies Group LLC, Mr. Friedman, was appointed President of Leucadia and remains Chairman of the Executive Committee of Jefferies Group LLC and Michael J. Sharp was appointed Executive Vice President and General Counsel of Leucadia and remains the General Counsel, Secretary and an Executive Vice President of Jefferies Group LLC. Mr. Joseph S. Steinberg, previously President of Leucadia, was appointed Chairman of the Board of Leucadia and remains a full time executive of Leucadia. As previously disclosed, upon effectiveness of the Second Merger, Mr. Ian M. Cumming retired as Chairman and Chief Executive Officer (CEO) of Leucadia, as well as from all other positions with Leucadia and its subsidiaries and affiliates, except that Mr. Cumming will continue as a director of Leucadia, and of Leucadia’s affiliate, HomeFed Corporation and its former subsidiary, Crimson Wine Group, Ltd. In connection with his retirement, Mr. Cumming’s employment agreement with the Company terminated. Full Article
Leucadia National Corp Announces Quarterly Cash Dividend
Leucadia National Corp announced that Board of Directors has declared a quarterly cash dividend equal to $0.0625 per Leucadia common share payable on March 28, 2013 to record holders of Leucadia common shares on March 18, 2013. Full Article
Leucadia National Corp and Jefferies Group Inc Merger To Be Effective March 1, 2013 And Announces MAnagement Changes
Leucadia National Corp and Jefferies Group Inc announced that the stockholders of Jefferies Group, Inc. and the shareholders of Leucadia National Corporation overwhelmingly approved the merger between the two companies pursuant to which Jefferies` stockholders will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they held and that the merger will be consummated effective March 1, 2013. In connection with the merger, Jefferies is also converting to a limited liability company, Jefferies Group LLC, which will be a subsidiary of Leucadia and will continue to be an SEC reporting company, regularly filing annual, quarterly, and periodic financial reports.Richard Handler, in addition to continuing in his role as Chief Executive Officer and Chairman of Jefferies, will become the Chief Executive Officer of Leucadia and one of its Directors. Brian Friedman, in addition to continuing in his role as Chairman of the Executive Committee of Jefferies, will become Leucadia`s President and one of its Directors. Joseph Steinberg, in addition to continuing to work full-time as an executive of Leucadia, will become Chairman of the Board of Leucadia. Ian Cumming will retire as Chairman of the Board and Chief Executive Officer of Leucadia but will continue in his role as a director of Leucadia. Full Article
Crimson Wine Group, Ltd. Completes Spin-off From Leucadia National Corp
Crimson Wine Group, Ltd. announced that its spin-off from Leucadia National Corp had been completed. Crimson, which held all of Leucadia's wine operations, was distributed to Leucadia's shareholders through a pro rata dividend of all of the shares of Crimson common stock. Crimson is now a separate public company. Crimson's common stock is not listed on any securities exchange. Trading in Crimson's common stock is expected to occur on OTC Link under the symbol CWGL. Holders of record of Leucadia's common shares as of the close of business on February 11, 2013, the record date for the spin-off, that did not subsequently trade the entitlement to their shares of Crimson common stock, received one share of Crimson common stock for every 10 Leucadia common shares held on the record date, with cash in lieu of fractional shares to be later distributed. The Crimson spin-off has been structured to qualify as a tax-free distribution to Leucadia and Crimson shareholders for U.S. federal income tax purposes. Crimson stockholders are urged to consult with their tax advisors with respect to the U.S. federal, state, local and foreign tax consequences of the Crimson spin-off. Full Article
White Mountains Insurance Group Ltd's White Mountains Solutions Holding Company to Acquire Empire Insurance from Leucadia National Corp
White Mountains Solutions Holding Company, wholly owned subsidiary of White Mountains Insurance Group Ltd announced that it had entered into a definitive agreement to acquire Empire Insurance Company; a runoff insurance subsidiary of Leucadia National Corporation (LUK). The transaction is expected to close during the second quarter of 2013 subject to customary closing conditions and regulatory approval from the New York Department of Financial Services. Terms of the transaction were not disclosed. Full Article
Leucadia National Corp Indicates Current Intention To Tender Common Shares Of Inmet Mining Corporation
Leucadia National Corp announced that it has filed a report with Canadian securities regulators disclosing that, based on current publicly available information, and in the absence of changed circumstances or new information (including an alternative transaction that would provide greater value), Leucadia would intend to tender the common shares of Inmet Mining Corporation that it owns to the take-over bid that has been made by First Quantum Minerals Ltd. for all of the common shares of Inmet. Leucadia may be considered to beneficially own 11,042,413 (approximately (15.92%) of the outstanding common shares of Inmet for purposes of applicable Canadian securities laws. Full Article
Leucadia National Corp Announces Cash Dividend
Leucadia National Corp announced that Board of Directors has declared a cash dividend equal to $0.25 per Leucadia common share payable on December 28, 2012 to record holders of Leucadia common shares on December 17, 2012. Full Article
Leucadia National Corp And Jefferies Group, Inc. Announces Agreement To Merge
Leucadia National Corp and Jefferies Group, Inc. announced that the Boards of Directors of both companies have approved a definitive merger agreement under which Jefferies' shareholders (other than Leucadia, which currently owns approximately 28.6% of the Jefferies outstanding shares) will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold. This exchange is intended to be tax-free to Jefferies' shareholders. The merger, which is expected to close during the first quarter of 2013. Upon the closing of merger, Mr. Handler will become Chief Executive Officer of Leucadia, as well as one of Directors, also remain Jefferies' Chief Executive Officer and Chairman; Mr. Friedman will become Leucadia's President and one of Directors, and also remain Chairman of Executive Committee of Jefferies and Mr. Steinberg will become Chairman of the Board of Leucadia and will continue to work full time as an executive of Leucadia. Mr. Cumming will retire as Chairman of the Board and Chief Executive Officer of Leucadia upon the closing of the transaction and remain a Leucadia Director. Following the transaction, 35.3% of Leucadia's common stock will be owned by Jefferies' shareholders. Leucadia's Board of Directors has approved a new share repurchase program authorizing the repurchase from time to time of up to an aggregate of 25 million Leucadia common shares, inclusive of prior authorizations. Full Article
Leucadia National Corporation Completes Acquisition Of Control Of National Beef
Leucadia National Corporation announced that it has completed the acquisition of a controlling interest in National Beef Packing Company, LLC (“National Beef”), one of the beef processing companies in the Unites States. National Beef processes, packages and delivers fresh and frozen beef and beef by-products for sale to customers in the U.S. and international markets. The transaction was previously announced on December 5, 2011. As a result of the transaction, Leucadia owns a 78.95% interest in National Beef and the other members of National Beef, U.S. Premium Beef, LLC, NBPCo Holdings, LLC and Timothy Klein, National Beef’s Chief Executive Officer, will hold a minority interest in National Beef. Leucadia anticipates that National Beef will continue to operate in the same manner and with the same management as was in place prior to the consummation of the transaction. Full Article
Fitch Equalizes Jefferies' and Leucadia's L-T IDRs at 'BBB-' After Merger; Outlook Stable
(The following statement was released by the rating agency) NEW YORK, March 07 (Fitch) Fitch Ratings has upgraded the long-term IDR of Leucadia National Corp. (Leucadia) to 'BBB-' from 'BB'. Concurrently, Fitch downgraded Jefferies Group LLC's (Jefferies) long-term Issuer Default Rating (IDR) and short-term IDR to 'BBB-' and 'F3', respectively, from 'BBB' and 'F2'. The Outlooks on all ratings are Stable. A full list of rating actions follows at the end of this press release. Today's ratin
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