American Can will raise its Jefferies stake to 20%.

A unit of American Can said it agreed to purchase for about $25.7 million convertible securities and stock of Jefferies Group, a Los Angeles-based securities firm, raising its stake to the equivalent of 20% from 9.8%. American Can had disclosed last week that it was holding talks with closely held Jefferies to increase its stake. American Can also said it sold its AC Securities stock brokerage unit for $3.75 million to W&D; Securities.