Commentary

Ronald Jordan
Traders Magazine Online News

Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

Traders Poll

Do you expect SEC Chairman Jay Clayton to push for regulation in the cryptocurrency issuance and trading markets?

Yes

74%

No

5%

The CFTC will push for regulation

21%

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February 1, 1998

Actual Merger

By John A. Byrne

Minneapolis-based Dean Rauscher, a full-service regional brokerage and investment bank, is acquiring Twin City rival Wessels, Arnold & Henderson in a deal valued at $150 million. The nominal purchase, which is expected to close March 31, includes $120 million in cash and $30 million in five-year subordinated debentures. The price tag is more than 13 times Wessel's estimated 1998 earnings.

Rob Gales, head of equity trading at Wessels, cited a strong combination in research expertise as reason for the agreement. "Dain has a proven background in financial-services and energy research," Gales said. "Wessels has a strong research staff in technology, healthcare and consumer-product [sectors]."

He added that Wessels agreed to the merger to have access to Dain's network of 1,200 retail brokers. "I also think with our office in Palo Alto, Dain can make a push to expand in California," Gales said.

William A. Johnstone, Dain's vice chairman, and Wessel's Chief Executive Kenneth J. Wessels will lead the transition team.