In Brief: Goldman Purchasing Spear Leeds for $6B

September 12, 2000, 1:00 a.m. EDT 1 Min Read

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.

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