New reports that Regions Financial Corp has ended its discussions to sell its Morgan Keegan brokerage unit to Stifel Financial Corp. continue to point to an uncertain outcome for both Regions and Morgan Keegan, industry observers said Tuesday.

Stifel’s exit from the discussion talks was reported by Bloomberg, citing unnamed sources, after the firms could not come agree on terms for a deal. At the same time, Raymond James is a contender, the Bloomberg story said. Stifel did not respond to requests for comment. Spokespersons for both Regions and Raymond James declined to comment.

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