(OTC:
HOFD) it does not already own, the company said.
Jefferies Financial Group (JEF), which currently owns approximately 70% of the outstanding shares of common stock of HomeFed Corporation (
HOFD) announced that the Board of Directors of Jefferies and the Special Committee of the Board of Directors of HomeFed have approved a definitive merger agreement under which Jefferies will acquire the shares of HomeFed common stock that it does not already own.
(NYSE: JEF), which currently owns 70.1 percent of HomeFed Corporation (OTC:
HOFD), a developer and owner of residential and mixed-use real estate properties primarily in California and New York, has said that it is planning to acquire the remaining common stock of HomeFed not already owned by Jefferies.