Piper Sandler in Talks to Acquire Perella Weinberg, Report Says

(Bloomberg) -- Piper Sandler Cos. is in talks to purchase Perella Weinberg Partners ( PWP ), a transaction that would forge together two investment banks, according to the Wall Street Journal.

Piper Sandler could finalize a deal soon, but nothing is finalized, the newspaper reported Tuesday, citing people familiar with the matter that it didn't identify. Piper Sandler has a market capitalization of about $4.9 billion, while Perella Weinberg is valued at nearly $1.6 billion.

Representatives for Piper Sandler and Perella Weinberg didn't immediately respond to requests for comment.