Stock Watch: Acquisition Plans Send Stockwalk Lower Group, Inc. (Nasdaq: STOCK) fell 1 1/8 to 7 7/8 Tuesday after the online brokerage said it would buy R.J. Steichen & Co. and Kinnard Investments, Inc. (Nasdaq: KINN) for a combination of cash and stock.

Kinnard shareholders will receive $6 cash and half a share of Stockwalk stock for each of their shares. Kinnard options and warrants will be cashed out. Steichen’s sole shareholder will get about 4.3 million restricted Stockwalk common shares, as well as up to two million more shares over the next two years.

The combined companies had revenue of more than $180 million for the year ended March 31st. The three firms employ more than 850 people and operate 34 branch offices in eight states, in addition to their Minneapolis, Minnesota offices.

Stockwalk Chairman and Chief Executive Officer Eldon Miller said the merger “creates a stronger and more dynamic company for our collective clients, shareholders and employees,” and also closes the gap between the firm and its larger competitors.

Kinnard, which had been searching for a buyer, rose 9/16 to 8 3/16.

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