Morgan Keegan, the brokerage unit of Regions Financial Corp., expects to receive initial bids on Monday from companies including Blackstone Group LP, Carlyle Group LP, Stifel Financial Corp. , TPG Capital, Apollo Global Management LLC and Warburg Pincus LLC, Reuters reported Friday citing sources familiar with the situation.
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One source said the unit has a book value of about $1.5 billion, while another said Raymond James Financial Inc. was also a likely bidder, according to Reuters.
TPG, Blackstone and Apollo declined to comment, while the other potential buyers weren't immediately available for comment, Reuters said.
