Stifel Financial Corporation (SF) announced on Monday that it will acquire KBW (KBW) in an attempt to create a premier middle-market investment bank. Shares of Stifel Financial rose 2.1% in Monday's trading session after the company furthermore announced its third quarter results. Shares of KBW rose 7.2% in Monday's trading session, closing at $17.47 per share.
The Deal
Stifel Financial announced that it will acquire KBW to create a premier middle-market investment bank. Under the terms of the agreement, Stifel will pay $17.50 per share for KBW. Shareholders in KBW will receive $10 in cash and $7.50 per share in Stifel's shares.
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