KBW, Inc. Stockholders Approve Proposed Merger with Stifel Financial Corp.
February 12 2013 - 1:23PM
Business Wire
KBW, Inc. (“KBW”) (NYSE: KBW) announced today that KBW
stockholders voted overwhelmingly in favor of the proposals
relating to the proposed merger with Stifel Financial Corp.
(“Stifel”). At the duly held special meeting today, 99 percent of
the shares present or represented by proxy (which constituted 79
percent of all outstanding shares on the record date) were voted in
favor of a proposal to adopt the agreement and plan of merger dated
as of November 5, 2012, among KBW, Stifel, and two wholly-owned
subsidiaries of Stifel, SFKBW One, Inc. and SFKBW Two, LLC. The
non-binding, advisory vote to approve certain compensation
arrangements for KBW’s named executive officers in connection with
the merger also received favorable support as 74 percent of the
shares present in person or represented by proxy at the special
meeting voted in favor of the proposal.
The approval of the stockholders of KBW was one of the remaining
conditions to the closing of the merger. The merger is still
subject to other customary closing conditions. KBW and Stifel
currently expect to close the merger on or about February 15,
2013.
About KBW
KBW, Inc., headquartered in New York, operates in the U.S. and
Europe through its broker dealer subsidiaries, Keefe, Bruyette
& Woods, Inc. and Keefe, Bruyette & Woods Limited.
Celebrating its 50th anniversary, KBW has established itself as a
leading independent authority in the banking, insurance, brokerage,
asset management, mortgage banking, real estate and specialty
finance sectors. Founded in 1962, the firm maintains
industry-leading positions in the areas of research, corporate
finance, mergers and acquisitions as well as sales and trading in
equities and debt securities of financial services companies.
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