Stifel in talks to buy rival broker Sterne Agee
Feb. 20--NEW YORK -- Stifel Financial Corp. is in discussions to acquire Sterne Agee Group Inc., combining two of the biggest U.S. brokerages outside of New York, according to a person with direct knowledge of the matter.
A deal may be announced within days, said the person, who asked for anonymity because discussions are confidential. Shares of St. Louis-based Stifel rose 45 cents to close at $51.55 on Friday.
Stifel Chief Executive Officer Ron Kruszewski has snapped up firms includ...