Jefferies shares edge higher on FT report of possible SMFG takeover interest

Jefferies JEF.N shares up 12.4% premarket on Tuesday after a Financial Times report said Japan's Sumitomo Mitsui Financial Group 8316.T is preparing plans for a possible takeover

SMFG has assembled a small internal team to be ready if Jefferies' depressed valuation creates an opening, the report said

Reuters not able to verify the FT report; Jefferies did not immediately comment, SMFG was not immediately available for comment

Any move not imminent, and it is unclear whether Jefferies executives would sell at current prices

Jefferies is set to report Q1 earnings after market close on Wednesday

Co has fallen more than 36% this year, according to LSEG data