PE, Rivals Eye Morgan Keegan

(Reuters) – Blackstone Group LP, Carlyle Group and Stifel Financial Corp are among the firms expected to submit bids Monday for Morgan Keegan, the brokerage unit of Regions Financial Corp, sources familiar with the situation said.

The brokerage unit is drawing interest from several private equity firms and rivals, the sources said.
TPG Capital, Apollo Global Management and Warburg Pincus are also among private equity firms interested in the business, the sources said.

Besides Stifel, Raymond James Financial Inc and other strategic buyers are also eyeing the business, one of the sources said.

Morgan Keegan has a book value of about $1.5 billion, one source said.

TPG, Blackstone and Apollo declined to comment. Regions and the rest of the potential bidders were not immediately available for comment.

(Reporting by Paritosh Bansal and Megan Davies; additional reporting by Joe Rauch; editing by Gerald E. McCormick)