Jefferies

On October 12, 2025, Jefferies Financial Group addressed investor concerns regarding the First Brands bankruptcy. CEO Rich Handler and President Brian Friedman issued a letter emphasizing Jefferies’ strong financial position, citing $10.5 billion in total equity and $11.5 billion in cash reserves. They highlighted a strengthened partnership with SMBC, including new credit facilities. While acknowledging a potential $45 million loss related to First Brands, Jefferies downplayed its impact and denied any prior knowledge of fraud, aiming to reassure investors of the firm’s overall stability.

Foxconn (Hon Hai Precision Industry) is considering a $3 billion bid for Singapore’s UTAC Holdings, a semiconductor testing and packaging firm owned by China’s Wise Road Capital, sources told CNBC. The deal, managed by Jefferies, aims to strengthen Foxconn’s chip capabilities amid U.S.-China tech tensions. UTAC’s Asia-wide production bases and $300M annual EBITDA make it a strategic acquisition target, enhancing Foxconn’s vertical integration for AI, automotive, and IoT chip demand. Analysts view the move as consolidation to counter Western semiconductor dominance and secure geopolitical leverage.