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Jefferies was named one of the World’s Most Admired Companies by Fortune magazine in 2011,<ref>[http://www.jefferies.com/cositemgr.pl/html/OurFirm/NewsRoom/PressReleases/2011/20110314press.shtml Jefferies named one of the World's most admired companies by Fortune Magazine]. Jefferies Press Releases, March 14, 2011</ref> Best Place to Work in the Financial Industry by Here Is The City News in 2010, 2011 and 2012,<ref>[http://hereisthecity.com/2011/03/28/jefferies-best-place-to-work-2011/ Jefferies Best Place to Work 2011]. Here is The City, March 28, 2011</ref> and one of the best companies to work for in the UK by The Sunday Times.<ref>[http://www.efinancialnews.com/story/2012-03-02/brooks-macdonald-and-goldman-sachs-places-to-be?mod=blogheadlines-home Goldman and Jefferies stand out in employment polls]. Financial News, March 02, 2012</ref>
On November 12, 2012, Jefferies announced its merger with Leucadia, its largest shareholder. Jefferies was valued at $3.8 billion and at the time of the acquisition. Jefferies remains independent and is the largest operating company within Leucadia. On March 1, 2013, along with the closing of the merger, Jefferies & Company, Inc. was converted to a [[limited liability company]] and rebranded Jefferies Group LLC.
==History==
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On August 1, 2012 [[Knight Capital]] took a pre-tax loss of $440m due to a trading glitch. On Sunday Aug. 5 the company managed to raise around $400 million from half a dozen investors led by Jefferies in an attempt to stay in business after the trading error. Jefferies CEO, [[Richard Handler]] and Executive Committee Chair Brian Friedman structured and led the rescue and Jefferies purchased $125 million of the $400 million investment and became Knight's largest shareholder.
On November 12, 2012 Jefferies announced its merger with Leucadia, its largest (28%) shareholder. Leucadia is often referred to as a Baby Berkshire because of its similarities to [[Berkshire Hathaway]]. Jefferies was valued at $3.8 billion and at the time of the acquisition, and the newly combined company had $9.4B of shareholder's equity, over $5 billion of cash, and $4 billion of NOL tax credits. Jefferies remains independent and is the largest operating company within Leucadia. [[Richard Handler]] became CEO of Leucadia while retaining his position as CEO of Jefferies. Brian Friedman became President of Leucadia while retaining his duties at Jefferies. Ian Cumming retired as CEO of Leucadia and remains a Board Member and Joe Steinberg became Chairman of Leucadia.
==References==
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