(RTTNews) - U.S. Bancorp (USB), a financial holding company, announced on Tuesday that it has entered into a definitive agreement to acquire BTIG, LLC, a financial services firm.
The transaction is expected to close in the second quarter of 2026.
Under the agreement, the total value is targeted at up to $1 billion, including a purchase price of $725 million payable at closing through cash and U.S. Bancorp shares, with up to an additional $275 million in earn-out payments over three years tied to performance targets.
Following the transaction, the company's leadership team will join U.S. Bancorp, with BTIG CEO Anton LeRoy continuing to lead the business.
The company said the acquisition is aimed at strengthening its capital markets capabilities and deepening relationships with corporate and institutional clients.
BTIG was founded in 2005 and ranks among the top 10 U.S. brokers by high-touch equity volume. The firm has more than 700 employees across 20 cities globally.
U.S. Bancorp said the deal is expected to have a negligible impact on 2026 earnings per share and reduce its Common Equity Tier 1 capital ratio by about 12 basis points at closing.
In the pre-market trading, U.S. Bancorp is 1.29% lesser at $53.69 on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
