Piper Sandler and Perella Weinberg Abandon Merger Talks

Piper Sandler and Perella Weinberg Partners have abandoned negotiations for an all-stock merger. The investment bank and advisory firm failed to reach a consensus on personnel and financial terms, ending the potential acquisition.

Perella Weinberg shares closed 19.1% lower at $13 following the announcement. Piper Sandler shares ended the session up 0.96% at $64.5. The deal would have seen Piper Sandler acquire Perella Weinberg, which held a market value of approximately $1.4 billion last month.