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Stifel in talks to buy rival broker Sterne Agee

Feb 20, 2015 - St. Louis Post-Dispatch (Missouri)
Mergers and Acquisitions

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...