Stifel Financial Corp., the St. Louis, Missouri-based brokerage, is revealed to extend an official decision, agreeing to acquire Thomas Weisel Partners Group Inc., under a deal worth $318 million in stock to widen its investment banking operations.

According to the deal, Thomas Weisel investors will fetch 0.1364 shares of Stifel for every share they own, the companies posted in a statement today.

It is reported that the purchase values San Francisco-based Thomas Weisel at nearly $7.60 a share, 74% greater compared to its $4.36 closing price on April 23.

The deal is expected to assist Stifel in spreading its client web in the technology and venture capital industries. The combined brokerage will have revenue touching nearly $1.6 billion, the companies uncovered.

Since 2004, Stifel is reported to have added nearly 3,200 employees and today bears a market value of about $1.7 billion.

The purchase, reportedly set to close on June 30, is subject to permitted by Thomas Weisel shareholders and regulators.

Mr. Weisel posted in an interview that he seeks to undergo more deals. "I am going to be 100% active'', Mr. Weisel said in an interview. "This is not a retirement exit strategy."