Kirkland Advises BTIG on Sale to U.S. Bancorp

Kirkland & Ellis advised BTIG, LLC, a financial services firm specializing in investment banking, institutional sales and trading, research and prime brokerage, on a definitive agreement to be sold to U.S. Bancorp (NYSE: USB). The transaction was announced January 13, 2026 and is expected to close in the second quarter of 2026, subject to regulatory approvals and satisfaction of applicable closing conditions. The targeted consideration for the transaction is up to $1 billion, with a target purchase price of $725 million ($362.5 million of cash and 6,600,594 shares of common stock) to be paid at closing. There is up to an additional $275 million of cash consideration payable over three years, subject to achievement of defined performance targets.

Read the transaction press release

The Kirkland team included corporate lawyers Rachael Coffey, Christopher Gandia, Peter Martelli, Jimin He and Eli Markham; and capital markets lawyer Christian Nagler.