M&A Deal Summary

US Bank Acquires Piper Jaffray

On January 1, 1998, US Bank acquired financial services company Piper Jaffray for 730M USD

Acquisition Highlights
  • This is US Bank’s 1st transaction in the Financial Services sector.
  • This is US Bank’s largest (disclosed) transaction.
  • This is US Bank’s 1st transaction in the United States.
  • This is US Bank’s 1st transaction in Minnesota.
Investment Fate
  • Piper Jaffray was sold to a strategic buyer in 2003.

M&A Deal Summary
Date 1998-01-01
Target Piper Jaffray
Sector Financial Services
Buyer(s) US Bank
Deal Type Add-on Acquisition
Deal Value 730M USD

Target

Piper Jaffray

Minneapolis, Minnesota, United States
Piper Jaffray is a full-service investment bank and asset management firm focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management and securities research.

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Buyer(S) 1

Buyer

US Bank

Minneapolis, Minnesota, United States
Category Company
Founded 1863
Sector Financial Services
Employees70,000
Revenue 28.0B USD (2023)
DESCRIPTION
US Bank office in downtown Duluth, Minnesota.
US Bank office in downtown Duluth, Minnesota.

U.S. Bank is a national consumer and commercial bank. The company operates more then 3,000 bank branches and offices across the US and provides a variety of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bank was founded in 1863 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 1 of 11
Sector (Financial Services) 1 of 5
Type (Add-on Acquisition) 1 of 7
State (Minnesota) 1 of 2
Country (United States) 1 of 11
Year (1998) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Piper Jaffray

Minneapolis, Minnesota, United States

Piper Jaffray is a full-service investment bank and asset management firm focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management and securities research.

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