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Toronto Dominion Bank To Acquire Epoch Holding Corporation's Epoch Investment Partners, Inc

Thursday, 6 Dec 2012 06:35am EST 

Epoch Holding Corp announced that it has entered into a merger agreement with Toronto Dominion Bank(TD Bank Group). The common stock of Epoch Holding Corporation, the parent of Epoch Investment Partners, Inc., will be acquired by TD Bank Group for cash consideration of approximately $668 million. Epoch stockholders will receive $28.00 in cash per share, representing a premium of approximately 28% to Epoch`s closing price on December 5, 2012. Following the completion of the transaction, Epoch will continue to operate and serve clients under its current brand name and operating structure. Epoch`s management and investment team, philosophy and process will remain the same. As part of the transaction, the leadership team of Epoch, both investment and business personnel, have entered into long-term employment agreements reinforcing their commitment to the firm. Epoch`s Board of Directors unanimously recommended this transaction to their stockholders for approval. Members of Epoch`s management team and Board of Directors, who currently collectively hold approximately 28% of Epoch`s outstanding shares, have demonstrated their support for the transaction by agreeing to vote in favor of the transaction. This transaction is expected to close in the first half of 2013. Credit Suisse served as financial advisor to Epoch. Skadden, Arps, Slate, Meagher & Flom LLP and Greenberg Traurig, LLP served as Epoch`s legal counsel. 

Company Quote

-0.31 -0.59%
29 Aug 2014