Piper Sandler in talks to buy Perella Weinberg, WSJ reports
The Wall Street Journal reports the two investment banks are discussing a deal, with no terms disclosed
Published
Piper Sandler is in talks to acquire Perella Weinberg, the Wall Street Journal reports. The report does not disclose a price, premium or timeline for a possible deal.
Perella Weinberg went public in 2021 through a SPAC merger as a standalone advisory firm. Since then the boutique M&A advisory sector has seen a wave of consolidation, and a deal would mark another step in that trend.
Perella Weinberg's most recent quarterly revenue came in at $148.9 million, down 29.7% from a year earlier and short of analyst estimates by 10.5%, according to StockStory. Its shares fell 31.8% following those results, trading near $15.50 at the time, StockStory reported.
For Piper Sandler, adding Perella Weinberg's M&A and restructuring bankers would bring scale and broader sector coverage at a moment when independent advisory firms are increasingly seen as takeover targets rather than firms built to stay public on their own. With the talks still unconfirmed and no terms disclosed, the near-term picture for both stocks is largely unchanged. The report is useful for tracking consolidation in the sector, but it is not yet a catalyst that alters the investment case for either company.