When a company buys a rival, or sells new shares or bonds to raise money, a bank usually sits in the middle, advising on terms and finding buyers. Jefferies Financial Group does that work. Companies hire it as an adviser and to underwrite their offerings (arrange the sale of new shares or bonds and place them with investors). Large investors such as fund managers use it to buy and sell securities. It is paid when deals close, when trades happen, and through interest on the financing it provides.
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