Bloomberg News
NEW YORK - Goldman Sachs Group Inc. agreed to pay $6.5 billion in stock and cash for Spear Leeds & Kellogg LP in a deal that would make the biggest arranger of new equity sales the biggest stock market middleman as well.
Goldman said it would pay $4.4 billion in stock and $2.1 billion in cash for the 69-year-old partnership, which is the biggest specialist firm on the New York Stock Exchange.
The transaction also includes $900 million of Goldman stock to retain Spear Leeds employees.