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. Last Updated: 07/27/2016

PaineWebber Grows

NEW YORK -- aineWebber Group Inc., the fourth-largest U.S. brokerage firm, said Friday it plans to buy privately-held regional brokerage J.C. Bradford & Co. for about $620 million in cash.

Nashville, Tennessee-based J.C. Bradford has 81 offices in 14 states, primarily in the Southeastern United States.

The deal, which is expected to close in the third quarter, adds more than 900 financial advisers and $46 billion in client assets to PaineWebber's existing base of 7,600 financial advisers and $452 billion in client assets, PaineWebber said.