Key Developments: Stifel Financial Corp (SF)
35.47USD
21 May 2013
$0.15 (+0.42%)
$35.00
$35.51
$36.14
$35.42
699,741
540,607
$39.72
$28.10
Latest Key Developments (Source: Significant Developments)
Knight Capital Group Inc To Sell Credit Brokerage Unit To Stifel Financial Corp-Reuters
Reuters reported that Knight Capital Group Inc has struck a deal to sell its credit-brokerage unit to Stifel Financial Corp. The terms of the deal were not known. The deal could be announced as soon as on February 25, 2013. Bank of America BAC.N advised Knight Capital on the sale. Knight Capital declined to comment on the sale. Stifel, Getco and Bank of America could not be immediately reached for comment. Full Article
Stifel Financial Corp and KBW Inc Complete Merger
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. Full Article
Stifel Financial Corp Announces Closing Of $150 Million Of Senior Notes
Stifel Financial Corp announced the closing of $150 million principal amount of 5.375% Senior Notes due 2022 (the "Notes"). This follows the December 18, 2012 announcement of the Notes pricing. Net proceeds after discounts, commissions and expenses were approximately $145.0 million and are expected to be used for general corporate purposes. Full Article
Stifel Financial Corp Acquires Miller Buckfire & Co., LLC
Stifel Financial Corp and Miller Buckfire & Co., LLC announced an agreement whereby Stifel has acquired 100% of Miller Buckfire, effective immediately. The terms of the transaction were not disclosed. Full Article
Stifel Financial Corp Announces Pricing Of $150 Million Of Senior Notes
Stifel Financial Corp announced the pricing of $150 million principal amount of 5.375% Senior Notes due 2022 (the "Notes"). The net proceeds from this offering are intended for general corporate purposes. Stifel Nicolaus Weisel, BofA Merrill Lynch and Morgan Stanley will act as joint book-running managers. Keefe, Bruyette & Woods, JMP Securities and US Bancorp will act as co-managers for the Notes. Full Article
Stifel Financial Corp Announces Proposed Public Offering of Senior Notes
Stifel Financial Corp announced that it intends to commence the marketing of the Company's senior notes due 2022 (the Notes). The underwriters will be granted a 30-day option to purchase an additional amount of Notes to cover over-allotments, if any. The net proceeds from this offering are intended for general corporate purposes. Stifel Nicolaus Weisel, BofA Merrill Lynch and Morgan Stanley will act as joint book-running managers. Keefe, Bruyette & Woods, JMP Securities and US Bancorp will act as co-managers for the Notes. Full Article
Stifel Financial Corp and KBW Inc Announce Strategic Merger
Stifel Financial Corp and KBW Inc announced that they have entered into a definitive merger agreement to create the premier middle-market investment bank with a specialized focus on the financial services industry.Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, KBW shareholders will receive $17.50 per share, comprised of $10.00 per share in cash and $7.50 per share in Stifel common stock. Additionally, holders of certain restricted KBW shares, that will continue to vest post closing, will receive $17.50 in Stifel common stock. The stock component of the consideration is fixed at $7.50 per share, subject to a collar, provided that the volume weighted average closing price of Stifel common stock for the ten days prior to closing is between $29.00 and $35.00 per share. If the volume weighted average price rises above $35.00 per share, the exchange ratio will be fixed at 0.2143 shares of Stifel common stock for each share of KBW, and if it falls below $29.00 per share, the exchange ratio will be fixed at 0.2586 shares of Stifel common stock for each share of KBW. The transaction is valued in excess of $575 million, which includes the outstanding shares and restricted stock awards of KBW. Approximately $250 million in excess capital on KBW's balance sheet is expected to be immediately available to Stifel upon closing. Full Article
Stifel Financial Corp. Announces Closing Of $175 Million Of Senior Notes
Stifel Financial Corp. announced the closing of $175 million principal amount of 6.70% Senior Notes due 2022. This follows the January 18, 2012 announcement of the Notes pricing. Net proceeds after discounts, commissions and expenses were approximately $169.3 million and are expected to be used for general corporate purposes. Stifel Nicolaus Weisel, BofA Merrill Lynch, Morgan Stanley, and UBS Investment Bank acted as joint book-running managers, Credit Suisse acted as joint lead-manager, and US Bancorp acted as co-manager for the Notes. Full Article
Stifel Financial Corp. Announces Pricing of $175 Million of Senior Notes
Stifel Financial Corp. announced the pricing of $175 million principal amount of 6.70% Senior Notes due 2022 (the "Notes"). The net proceeds from this offering are intended for general corporate purposes. Stifel Nicolaus Weisel, BofA Merrill Lynch, Morgan Stanley, and UBS Investment Bank will act as joint book-running managers, Credit Suisse will act as joint lead-manager, and US Bancorp will act as co-manager for the Notes. Full Article
Stifel Financial Corp. Announces Proposed Public Offering Of Senior Notes
Stifel Financial Corp. announced that it intends to commence the marketing of the Company's senior notes due 2022. The underwriters will be granted a 30 day option to purchase an additional amount of Notes to cover over-allotments, if any. The net proceeds from this offering are intended for general corporate purposes. Stifel Nicolaus Weisel, BofA Merrill Lynch, Morgan Stanley, and UBS Investment Bank will act as joint book-running managers, Credit Suisse will act as joint lead-manager, and US Bancorp will act as co-manager for the Notes. Full Article
Stifel's first-quarter profit hit by merger-related charges
- Stifel Financial Corp said on Thursday its profit during the first quarter was hit by merger-related charges from its acquisition of smaller rival KBW Inc, but pointed to the strong performance of its wealth management division.
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