November 5, 2012 / 12:50 PM / in 5 years

Stifel Financial to buy KBW

Nov 5 (Reuters) - Stifel Financial Corp said it would buy smaller rival KBW Inc in a transaction valued at about $575 million, creating a middle-market investment bank focused on the financial services industry.

KBW shareholders will receive $17.50 per share comprised of $10 per share in cash and $7.50 per share in Stifel stock.

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