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Piper Sandler Stock Falls 9.7% on Perella Weinberg Deal Talks

Yahoo Finance2 min read6 sources

Why did Piper Sandler stock fall 9.7%?

Piper Sandler (PIPR) stock fell 9.7% to $64.72 on Tuesday after the Wall Street Journal reported it is in acquisition talks with rival Perella Weinberg (PWP), whose shares rose 11.8%.

Key numbers

Piper Sandler (PIPR) close$64.72-9.72% (-$6.97)
Perella Weinberg (PWP) close$16.37+11.82% (+$1.73)
Piper Sandler market value~$4.9Bafter the drop
Perella Weinberg market value~$1.6Bafter the jump
Perella Weinberg year to date-6.7%still down for 2026 (per [3])

What happened

Piper Sandler (PIPR) stock fell 9.7% to $64.72 on Tuesday after the Wall Street Journal reported it is in acquisition talks with rival Perella Weinberg (PWP), whose shares rose 11.8%. Both are Wall Street firms that advise companies on mergers and big deals. Perella Weinberg's stock closed at about $16.37. The Journal said a deal could come soon, but nothing is final and the talks may not end in an agreement. Neither company has commented publicly.

Why it matters

Piper Sandler is looking to grow by buying a direct rival, and its own investors reacted with worry while Perella Weinberg's investors cheered the chance of being bought. A combined firm would be a bigger competitor for merger advice work, which could change how Wall Street's smaller advisory banks compete. No price or terms have been made public, so the final picture is still unclear.

Who this affects

Marketneutral
Low impact
Limited effect on broader stocks; focused on two financial firms.
Companybearish
Medium impact
Piper Sandler shareholders saw a sharp one-day drop.
Competitorsneutral
Low impact
Evercore and Moelis moved only slightly, down about 1% or less.
Industrymixed
Medium impact
Advisory firms could consolidate, helping targets but unsettling buyers.

Piper Sandler vs Perella Weinberg, Evercore, Moelis

Piper SandlerPIPR$4.9B-9.7%-11.0%—
Perella WeinbergPWP$1.6B+11.8%-6.7%—
EvercoreEVR$9.9B-1.2%-24.0%12.2x
Moelis & CompanyMC$4.3B-0.2%—13.4x

As of 2026-09-29

How we got here

  1. Wall Street Journal reports Piper Sandler is in talks to buy Perella Weinberg.

  2. Perella Weinberg closes up 11.8%; Piper Sandler closes down 9.7%, a wider drop than early reports of about 5%.

  3. Representatives of both companies decline to comment on the talks.

What to watch

  • Whether Piper Sandler and Perella Weinberg announce a signed deal, including price and payment terms.Q4 2026
  • Any public statement or regulatory filing from either company confirming or ending the talks.Q4 2026

Educational content only. Not investment advice.

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