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We have taken a 10% position in Leucadia National Corp (LUK).
Today it was announced that Leucadia (LUK) was going to acquire the remaining shares of Jefferies (JEF) that it didn’t already own (found here). LUK has fallen nearly -4.5% on the news of the deal. Leucadia (LUK) is considered a “mini-Berkshire” due to management success at allocating capital to highly profitable ventures.