Piper Sandler is in talks to acquire advisory firm Perella Weinberg Partners, potentially bringing together two prominent Wall Street firms known for merger and acquisition dealmaking. Sources familiar with the matter said discussions are ongoing and an agreement could be reached in the coming weeks, though a deal is not guaranteed.
Perella Weinberg shares rose more than 15% on the news, while Piper Sandler’s stock fell. Piper Sandler has a market capitalization of about $4.9 billion. Perella Weinberg is valued at about $1.6 billion.
Neither firm has commented on the discussions.