Jefferies Financial Group completed its merger with HomeFed.

Jefferies Financial Group, an American multinational independent investment bank and financial services company, completed its merger with HomeFed Corporation, a developer and owner of residential and mixed-use real estate properties primarily in California and New York. “We are very pleased that the Special Committee of the Board of Directors of HomeFed has approved the transaction. Merging with HomeFed will allow Jefferies to consolidate HomeFed for tax purposes (which will avoid an extra layer of taxes as HomeFed monetizes its assets), affording greater flexibility as to the timing and form of maximizing value over time. We very much look forward to continuing to work closely with Chris Foulger, Paul Borden and the entire HomeFed team to achieve those goals,” Rich Handler and Brian Friedman, Jefferies CEO and President.