April 26 U.S. investment bank Stifel Financial
Corp (SF.N) may buy its rival Thomas Weisel Partners Group Inc
TWPG.O in an all-stock deal worth about $300 million, the Wall
Street Journal said.
Under the deal, Stifel will exchange 0.1364 share for each
outstanding Thomas Weisel Partners share. Based on Stifel's
closing price Friday of $55.74, the deal values Weisel at $7.60
a share, or about a 74 percent premium to the stock's closing
price of $4.36 Friday, the newspaper said.
The price also reflects restricted stock and warrants that
Thomas Weisel will receive, the paper said.
Stifel focuses on advising mostly middle-market clients on
deals and underwriting issues. The Thomas Weisel deal may allow
Stifel to harness Weisel's brand and expertise when merger deals
in the technology sector revive, the Journal said.
Stifel Financial and Thomas Weisel Partners could not
immediately be reached for comment by Reuters outside regular
U.S. business hours.
(Reporting by Sakthi Prasad in Bangalore; Editing by David