Perella Weinberg, Piper Sandler Scrap Merger That Would Have Made $6bn Bank

Perella Weinberg and Piper Sandler have called off merger discussions, the Financial Times reported. A combined firm would have formed an independent investment bank worth roughly $6 billion in market value. The collapse of talks comes during a stretch of heavy bank earnings reporting, with an Investing.com scorecard tracking winners and misses across two days of results from the sector. A tie-up of this size would have been one of the larger consolidation moves among boutique advisory banks in recent years, and its failure leaves both firms to compete independently in a dealmaking environment where many banks are still working through mixed earnings reactions. Neither the Financial Times item nor other wires give a reason for the breakdown, leaving open whether valuation, governance, or market conditions were the sticking point.