Stifel Financial to Buy KBW for $575 Million – $SF, $KBW

“Stifel Financial agreed on Monday to buy KBW Inc. for about $575 million in cash and stock, giving the acquisitive investment banking firm a prominent adviser to the financial services industry.

Under the terms of the deal, Stifel will pay $10 a share in cash and $7.50 a share in stock. (The exact amount of stock that KBW shareholders will receive will be based on Stifel’s volume-weighted average closing price for the 10 days before closing.)”

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