07:44 AM EDT, 03/24/2026 (MT Newswires) -- (Updates with stock move in the last paragraph.)

Sumitomo Mitsui Financial Group ( SMFG ) is considering acquiring Jefferies (JEF), the Financial Times reported Tuesday, citing people familiar with the matter.

The Japanese lender, which holds a minority stake in the US-based investment bank, has assembled a small group to be prepared to act should Jefferies' declining share price create an opportunity, sources told FT.

Sources also added that any move by Sumitomo is not imminent, according to the report.

"Jefferies is our important partner. We decline to comment on hypothetical assumptions or rumors," a spokesperson for SMFG was quoted as saying.

Jefferies didn't immediately respond to MT Newswires' request for comment.

Jefferies shares were up 8.2% in premarket activity, while Sumitomo fell 0.2%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)