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Active-Investors: Blog Exposure - Leucadia National Announces Strategic Transactions Including Sale of Interests in National Beef and Garcadia

Stock Monitor: Ladenburg Thalmann Financial Services Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 11, 2018 / Active-Investors.com has just released a free research report on Leucadia National Corp. (NYSE: LUK) ("Leucadia"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=LUK as the Company's latest news hit the wire. On April 09, 2018, the Company announced strategic transactions involving several of its investee companies; a proposal to change the name of the corporation to Jefferies Financial Group Inc.; and a new share buyback authorization. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Ladenburg Thalmann Financial Services Inc. (NYSE AMER: LTS), which also belongs to the Financial sector as the Company Leucadia National. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/'symbol=LTS

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Leucadia National most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=LUK

Leucadia to Sell 48% Stake of National Beef to Marfrig

Leucadia signed a deal to sell 48% of its stake in National Beef to Marfrig, a great long-term strategic partner, for approximately $900 million in cash. The transaction will reduce Leucadia's ownership in National Beef to 31%, and will allow the Company to deconsolidate National Beef and also simplify Leucadia's income statement and balance sheet. The pre-tax gain that will be recognized as a result of this transaction is estimated to be in the range of $800 million - $850 million. Leucadia will receive an additional estimated $150 million in distributions prior to the closing. Marfrig will also acquire a further 3% of National Beef from other shareholders and will own 51% of National Beef. The transaction is expected to close in Q2 2018.

Leucadia to Sell Off Interest in Auto-Dealership Group Garcadia

Leucadia has also inked an agreement to sell 100% of its equity interests in the auto dealer group, Garcadia, and its associated real estate to Leucadia's current partners, the Garff Family. The sale price, based on a $675 million enterprise valuation, is a net $425 million, payable through $375 million in cash and $50 million in redeemable preferred equity. The Company will recognize a pre-tax gain of about $220 million. The transaction is likely to close in Q3 2018.

Leucadia's Proposed Name Change

Leucadia's Board of Directors have proposed to change the name of the Company to Jefferies Financial Group Inc. Jefferies is by far the Company's largest business and engine of opportunity. The proposed name change is intended to reflect that Leucadia will be a diversified financial services Company, engaged in investment banking and capital markets, merchant banking, and the early stages of building an alternative asset management platform. The Leucadia name will continue to be used in asset management and merchant banking activities. The renamed group will be well-capitalized with approximately $11 billion of shareholders' equity, and $1 billion of parent Company long-term debt, pro-forma for the National Beef and Garcadia deals, as of year-end 2017. The new ticker on the NYSE will be JEF, effective post-approval of its name change.

Acquisition of Non-Operated Bakken Assets by Leucadia's Subsidiary Vitesse

Vitesse Energy Finance ("Vitesse"), 97%-owned by Leucadia, has completed the acquisition of a package of non-operated Bakken assets from an institutional seller for $190 million in cash, of which $145 million was funded as equity by Leucadia and the balance drawn under Vitesse's credit lines. Vitesse is acquiring 4,200 boe/day of flowing production and 23,000 net acres in the Bakken core, with over 85% of the assets remaining to be developed. The acquisition will essentially double the size of Vitesse's assets in the valuable core of the Bakken Field. Vitesse has increased its working interest in Bakken drilling spacing units and flowing wells, in which it has an existing interest.

Board Approved Doubling the Buyback Program to 25 Million Shares

Leucadia's Board of Directors has approved an increase in the Company's share repurchase program to 25 million common shares from the 12.5 million remaining under its prior authorization. The shares may be repurchased by Leucadia from time to time in the open market through block trades or otherwise.

News report suggests that post announcement of the news, the shares of the Company surged in pre-market trading.

About Leucadia National Corp.

Founded in 1968 and headquartered in New York City, New York, Leucadia operates as a diversified holding Company that focuses on financial service businesses and investments in the Americas, Europe, and Asia.

Stock Performance Snapshot

April 10, 2018 - At Tuesday's closing bell, Leucadia National's stock slightly rose 0.37%, ending the trading session at $24.38.

Volume traded for the day: 4.88 million shares, which was above the 3-month average volume of 2.05 million shares.

After yesterday's close, Leucadia National's market cap was at $8.97 billion.

Price to Earnings (P/E) ratio was at 14.44.

The stock has a dividend yield of 1.64%.

The stock is part of the Financial sector, categorized under the Investment Brokerage - National industry. This sector was up 1.3% at the end of the session.

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A-I has not been compensated; directly or indirectly; for producing or publishing this document.

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The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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SOURCE: Active-Investors

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