Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: Directors Deals Ltd.
$12.00
Provider: Sadif Analytics Prime
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

GMP Capital Inc To acquire Macquarie Private Wealth Inc


Monday, 9 Sep 2013 05:42pm EDT 

GMP Capital Inc GMP Capital Inc announced that it has reached an agreement (the Agreement) to acquire Macquarie Group's Canadian retail business, Macquarie Private Wealth Inc. (MPW Canada). Under the terms of the Agreement, Richardson GMP has agreed to acquire all of the outstanding shares of MPW Canada for a purchase price of approximately $132 million, which will be funded by an equity offering on a private placement basis. Each of Richardson Financial Group (RFG), a subsidiary of James Richardson & Sons, Limited, and GMP Capital Inc. (GMP) will equally subscribe to a preference share offering by Richardson GMP for total proceeds of $60 million. An additional $30 million will be raised by a common share offering to all Richardson GMP shareholders, including GMP and RFG, on a pro rata basis. Upon completion of the offering, GMP and RFG will continue to own equal interests in Richardson GMP, with the balance being held by Richardson GMP's management and investment advisors. Completion of the transaction is subject to a number of customary closing conditions, including regulatory approval by the Investment Industry Regulatory Organization of Canada. The transaction is expected to be completed during the fourth quarter of 2013. GMP Securities L.P. is acting as financial advisor to Richardson GMP. Macquarie Capital is acting as financial advisor to MPW Canada. 

Company Quote

6.21
0.13 +2.14%
3:49pm EST