As recently as April 10, 2012, Jefferies traded above the offer price at $18.00 per share. At least one analyst from JMP Securities has set a price target for Jefferies of $19.00 per share. Jefferies stockholders will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock. Further, following the completion of the merger, Jefferies's Chief Executive Officer Richard Handler will become the Chief Executive Officer of Leucadia, as well as one of its directors, and will also remain Jefferies's Chief Executive Officer and Chairman; Jefferies's Chairman of the Executive Committee, Brian Friedman, will become Leucadia 's President and one of its directors, and will also remain Chairman of the Executive Committee of Jefferies. In addition, upon the closing of the transaction, four members of the board of directors of Jefferies will join the Leucadia board of directors. Further, on September 20, 2012, Jefferies reported its results for the third quarter of 2012.