- Piper Jaffray (PJC -3.5%) is lower after earlier agreeing to acquire energy dealmaker Simmons & Co. for $139M in cash and stock.
- PJC says the move adds more than 170 professionals offering M&A advice, equity research and sales and trading.
- "We recognize that we’re stepping into a difficult part of the cycle, but the long-term prospects and fit is very appealing to us," PJC CEO Andrew Duff says.
Piper Jaffray to buy Simmons for energy dealmaking push
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