Jefferies' Sale Of Its National Beef Stake Could Lead To A Huge Buyback
On November 17, 2019, Jefferies Financial Group (JEF) made a surprise announcement. Jefferies reported that its remaining stake in National Beef, a long-held private company investment, had been sold for $970 million.
Even more amazing, the announcement said that the sale would close on or before November 30, 2019. This is the last day of Jefferies' fourth quarter for the 2019 fiscal year. This immediately led to speculation that the company would do a large share buyback. KBW analyst was