NEW YORK Dec 30 A group of private equity
firms, including the Carlyle Group, struck a deal on
Sunday to buy financial advisory and investment banking firm
Duff & Phelps Corp for about $665.5 million.
Duff & Phelps said the firms will pay $15.55 a share to
stockholders. The other buyers in the consortium are Stone Point
Capital, Pictet & Cie and Edmond de Rothschild Group.
The deal allows Duff & Phelps Corp. a "go-shop" period
starting immediately and ending on Feb. 8, 2013, during which it
will seek higher offers from other potential buyers.
The agreement includes a break-up fee of $6.65 million from
Duff & Phelps if the company abandons the deal for a higher
offer before March 8, 2013.
Duff and Phelps Corp. advises clients on areas such as
valuation, transactions, financial restructuring, alternative
assets, disputes and taxation. It employs more than 1,000 people
and has offices in North America, Europe, and Asia.