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.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.