Wells Fargo Set For Acquisition

Wells Fargo (NYSE:WFC) has entered into a deal to acquire prime brokerage firm Merlin Securities.

Wells Fargo Set For Acquisition

Reports say that financial giant Wells Fargo (NYSE:WFC) is buying prime brokerage firm Merlin Securities, a company that serves hedge funds and other clients with as much as $2 billion in assets.

Chris Bartlett, Wells Fargo (NYSE:WFC)’s head of equity sales and trading said, “The acquisition of Merlin Securities LLC gives Wells Fargo (NYSE:WFC) a platform for growing in the prime brokerage business and for selling other products and services to hedge funds.”

Wells Fargo (NYSE:WFC) stocks are currently standing at 33.77.

Price History
Last Price: 33.77
52 Week Low / High: 22.58 / 34.59
50 Day Moving Average: 32.76
6 Month Price Change %: 24.7%
12 Month Price Change %: 15.4%