Perella Weinberg, Piper Sandler reportedly abandon merger talks
PIPR•Perella Weinberg Partners and Piper Sandler abandoned talks for an all-stock merger, reportedly because they could not agree on financial and personnel matters. Perella Weinberg shares fell 16.3% to $13.48, while Piper Sandler shares rose 5%.
1. Merger talks end
Perella Weinberg Partners and Piper Sandler abandoned talks for an all-stock merger, reportedly after failing to agree on financial and personnel matters.
2. Shares move in opposite directions
Perella Weinberg shares fell 16.3% to $13.48 after reaching a session low of $13.14, while Piper Sandler shares rose 5%. A prior report said Piper Sandler was in talks to buy Perella Weinberg, which then had a market value of about $1.4 billion.
