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Semafor2 min read

Lowball retention bonuses doomed Perella-Piper Sandler merger

Perella bankers balked at $2.5 million in equity to stay with the combined bank.

By Rohan GoswamiSemafor Tech
Lowball retention bonuses doomed Perella-Piper Sandler merger

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Originally published by Semafor Tech on Oct 16, 2026.

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