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Stock Market & Financial Investment News

News Breaks
February 24, 2013
16:39 EDTKCG, SFKnight Capital selling debt broker unit to Stifel Financial
Knight Capital Group (KCG), which was recently acquired by Getco, is planning to sell its credit-brokerage unit to Stifel Financial Corp. (SF), says Bloomberg citing six people with knowledge of the matter. Reference Link
News For KCG;SF From The Last 14 Days
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February 24, 2015
08:37 EDTSFStifel Financial acquisition of Sterne Agee logical, says JMP Securities
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07:21 EDTKCGSecurities Industry & Financial Markets Association to hold a conference
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February 23, 2015
16:25 EDTSFStifel Financial acquires Sterne Agee for $150M in cash, stock
Stifel Financial announced that it has entered into a definitive merger agreement to acquire Sterne Agee Group. The acquired businesses are expected to generate $300M-$325M in gross annual revenues and be accretive to shareholder value when fully integrated. The transaction values Sterne Agee at approximately $150M. The closing consideration consists of a combination of Stifel common stock, valued at $51.55 per share, and cash. Depending on shareholder elections, the minimum amount of Stifel stock issued at closing is 1.42M shares and the maximum amount issued is 1.62M shares. Accordingly, the cash consideration will range from approximately $77M-$66M. Stifel and Sterne Agee have agreed with the founders of the FBC Mortgage business to sell the business back to them. The merger is subject to approval by Sterne Agee shareholders and is expected to close in the late spring.The boards of directors of both companies unanimously approve the merger.
16:10 EDTSFStifel Financial announces acquisition of Sterne Agee
Stifel Financial announced the acquisition of Sterne Agee, which it says "bolsters our Global Wealth Management segment with the addition of more than 700 financial advisors and independent representatives nationwide managing over $20 billion in client assets, and complements our Fixed Income platform, generating significant scale."
16:09 EDTSFStifel Financial reports Tier 1 leverage capital ratio 16.5%
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16:08 EDTSFStifel Financial reports Q4 EPS 75c, consensus 78c
Reports Q4 revenue $578.1M, consensus $581.6M.
February 20, 2015
09:36 EDTSFStifel Financial in talks to buy rival Sterne Agee, Bloomberg says
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09:16 EDTSFStifel said in talks to buy Sterne Agee, Bloomberg reports
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