As new reports surface that both Stifel Financial and Raymond James could be in the running to buy Regions Financial’s brokerage firm, industry analysts are eyeing exactly how a possible deal could shape up.

The Wall Street Journal reported on Friday night that both Stifel and Raymond James are in advanced talks to buy Morgan Keegan for $900 million to $1 billion, citing unnamed sources. Those terms would include another $250 million dividend payment from Morgan Keegan to Regions before the deal closed, the story said.

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