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Stifel Financial Corp and KBW Inc Complete Merger


Friday, 15 Feb 2013 09:43am EST 

Stifel Financial Corp and KBW Inc. announced the completion of their previously announced merger. The combination creates a financial services specialized practice within the premier middle-market investment bank. announcement follows shareholder approval of the transaction at the Special Meeting of Stockholders of KBW, and receipt of all regulatory approvals. Each share of KBW common stock will be converted into a combination of: (1) cash consideration of $8.00 ($10.00 less the $2.00 per share extraordinary dividend); and (2) stock consideration based on an exchange ratio of 0.2143 shares of Stifel common stock, which is calculated based on a pricing period that commenced on February 1, 2013 and concluded on February 14, 2013. KBW will continue to utilize its preeminent market brand, and Thomas Michaud will remain Chief Executive Officer of the KBW business unit and join Stifel's board. Prior to the opening of the market on February 15, 2013, KBW common shares ceased trading on the NYSE. 

Company Quote

43.98
0.45 +1.03%
17 Oct 2014