Piper Sandler said to be in talks to buy Perella Weinberg

The Wall Street Journal reported on Tuesday that Piper Sandler is in talks to buy Perella Weinberg Partners. A potential tie-up could value Perella Weinberg at roughly its $1.4 billion market cap. Perella Weinberg shares rose more than 15% on the news, while Piper Sandler shares fell about 5%. LSEG data puts Piper Sandler's market value at a little over $5 billion. Piper Jaffray and Sandler O'Neill merged in January 2020. Bank of America expects investment-banking fees to fall more than 10% in the third quarter, while JPMorgan Chase has flagged healthier growth at its own investment bank. Four distinct sources, including The Business Journals, StockStory, timothysykes.com and Yahoo Finance, covered the story between Sep 29, 20:24 UTC and Sep 29, 22:33 UTC. No completed deal was reported, and whether the talks produce an agreement remains unresolved.