US Bancorp Strikes $1 Billion Deal To Acquire BTIG In Investment Banking, Trading Push

U.S. Bancorp has had a referral program with the company since 2014 in the equity markets and since 2023 in the mergers and acquisitions advisory space.

• The Minneapolis, Minnesota-headquartered U.S. Bancorp expects its acquisition of BTIG to close in the second quarter of 2026, subject to regulatory approvals.
• U.S. Bancorp will pay a target purchase price of $725 million at closing, with $362.5 million in cash and the remaining in the form of 6.6 million shares of  its common stock.
• There is an additional payment of up to $275 million in cash consideration payable over three years, subject to achievement of defined performance targets.

U.S. Bancorp (USB) on Tuesday announced that it has entered into a definitive agreement to acquire global financial services firm BTIG LLC.

The deal, valued at up to $1 billion, comes at a time when U.S. Bancorp is looking to bolster its presence in the capital markets.

U.S. Bancorp shares edged lower by 0.8% in Tuesday’s pre-market trade. Retail sentiment on Stocktwits trended in the ‘bullish’ territory at the time of writing.

Why Is U.S. Bancorp Acquiring BTIG?

U.S. Bancorp highlighted its partnership with BTIG over the past decade, noting that it has had a referral program with the company since 2014 in the equity markets and since 2023 in the mergers and acquisitions (M&A) advisory space.

“BTIG’s addition to U.S. Bancorp is a strategic move to fill key product gaps for our corporate and institutional clients, enabling us to offer a more comprehensive suite of capital markets services,” said Stephen Philipson, Vice Chair and Head of Wealth, Corporate, Commercial and Institutional Banking at U.S. Bancorp.

The Minneapolis, Minnesota-headquartered U.S. Bancorp expects its acquisition of BTIG to close in the second quarter (Q2) of 2026, subject to regulatory approvals. The deal is structured such that U.S. Bancorp will pay a target purchase price of $725 million at closing, with $362.5 million in cash and the remaining in the form of 6.6 million shares of its common stock.

There is an additional payment of up to $275 million in cash consideration payable over three years, subject to achievement of defined performance targets.

What Does BTIG Do?

Founded in 2005, BTIG offers investment banking, institutional sales and trading, research, and brokerage services. BTIG has been part of more than 1,275 announced investment banking transactions since 2015. It has more than 700 employees operating in 20 cities across the U.S., Europe, and Australia.

The company also notes on its website that it has over 3,500 institutional and corporate clients worldwide.

USB stock is up 2% year-to-date and 15% over the past 12 months.

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