Stifel Financial To Buy Thomas Weisel (SF, TWPG)

Stifel Financial Corp. (NYSE: SF) has announced the purchase of Thomas Weisel Partners Group Inc. (NASDAQ: TWPG). The deal is likely to be worth about $318 million and will be paid through stock. The deal will also help Stifel in expanding its investment banking operation.

According to BusinessWeek, Thomas Weisel shareholders will receive 0.1364 shares of Stifel for every share they own. The offer price of $7.60 apiece is at a 74 percent premium to Thomas Weisel’s closing price on April 23.Both the parties expect the deal to be finalized by the end of June.

Stifel is looking to boost its technology and venture capital industries segment.