SocGen To Acquire Most Of Jefferies Bache Futures Activities

Societe Generale has agreed to acquire most of the futures actvities of Jefferies' Bache business in a deal expected to close in the second quarter. Jefferies, a unit of Leucadia National Corp. , will take a $66 million after-tax charge on the deal and plans to exit Bache's remaining futures and commodities activities. The investment bank expects the exit to boost future earnings. Leucadia shares were not yet active in premarket trade, but have gained 2.1% in the year so far, while the S&P 500 has gained 1.1%.