Huntington Bancshares (HBAN) has agreed to buy certain units of KKR-owned (KKR) Janney Montgomery Scott to strengthen its capital-markets operations, people with knowledge of the matter told Bloomberg’s Yizhu Wang and James Crombie. The lender will acquire Janney’s mergers and acquisitions advisory business through subsidiary Capstone Partners and will also acquire Janney’s public-finance group as well as its fixed-income sales and trading business to fold into Huntington Securities, though terms of the deal couldn’t be learned, the report added.
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