Stifel Financial Corp., a St. Louis brokerage, has agreed to buy Thomas Weisel Partners Group Inc. for about $318 million in stock to expand its investment banking operations.

Thomas Weisel investors would get 0.1364 share of Stifel for every share they own, the companies said Monday. The deal values Thomas Weisel, a San Francisco company, at about $7.60 a share, 74% above its $4.36 closing price on Friday.

Buying Thomas Weisel would help Stifel add clients in the technology and venture capital industries, the St. Louis firm said. The combined brokerage would have revenue of about $1.6 billion and a market value of about $2 billion, the companies said.

The deal is to close June 30 and is subject to approval by Thomas Weisel shareholders and regulators.

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