Stifel, KBW Advised by Own Investment Banking Units in $575 Mln De

KBW Inc. and Stifel Financial Corp. were advised by their own investment banking subsidiaries, as KBW agreed to be acquired by Stifel in a $575 million deal.

The companies said the combination will form the financial sector’s top M&A adviser. KBW was advised by its Keefe Bruyette & Woods unit and by Bank of America Corp. Stifel was advised by Steifel Nicolaus & Co., and was provided with a fairness opinion by Stephens Inc.

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