Macquarie In Talks To Acquire Jefferies' Commodities Trading Unit : Reports

(RTTNews) - Australia's largest investment bank Macquarie Group Ltd is in talks to acquire Jefferies Group's commodities trading unit, according to reports citing people familiar with the matter.

The reports noted that the Australian firm is one of several companies interested in the unit and the talks are at an early stage.

Jefferies Group LLC, a subsidiary of Leucadia National Corp. (LUK), said last month it was pursuing strategic alternatives for Jefferies Bache, a broker and trader in commodities futures markets.

Jefferies agreed in 2011 to acquire Prudential Bache's Global Commodities Group from life insurer Prudential Financial Inc. for about $430 million. The business, now called Jefferies Bache, has operations in New York, Chicago, London and Hong Kong.