MEMPHIS, TN (abc24.com) - Raymond James Financial, Inc. has entered an agreement to take over the Memphis-based financial firm Morgan Keegan & Company, Inc. in a $930 million deal.
According to a release from Raymond James, the merge would "create one of the country’s largest full-service wealth management and investment banking firms not headquartered on Wall Street."
Morgan Keegan CEO John Carson will join Raymond James Financial as president and will oversee Fixed Income and Public Finance, a division that will remained centered in Memphis.
The deal is expected to be finalized by the end of March 2012.
