:Mizuho Financial Group Inc will buy U.S. M&A advisory firm Greenhill & Co Inc for $550 million including debt, the companies said on Monday, as Japan's No. 3 lender eyes a bigger share of the world's largest investment-banking fee pool.
Greenhill shares more than doubled to $14.68 on Monday after the announcement, but are still below their 2004 initial public offering price of $20. Mizuho's bigger rival Sumitomo Mitsui Financial Group in April announced it would boost its stake in U.S. investment bank Jefferies Financial Group Inc from 4.5 per cent to as much as 15 per cent.
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