Edition:
United States

Affiliated Managers Group Inc (AMG)

AMG on New York Consolidated

196.75USD
12 Dec 2017
Change (% chg)

$-1.25 (-0.63%)
Prev Close
$198.00
Open
$198.22
Day's High
$198.80
Day's Low
$196.35
Volume
424,893
Avg. Vol
282,349
52-wk High
$202.09
52-wk Low
$139.52

Latest Key Developments (Source: Significant Developments)

Affiliated Managers Group enters commitment increase agreement
Monday, 6 Jun 2016 07:25am EDT 

Affiliated Managers Group Inc : Entered commitment increase agreement increasing commitments under revolving credit agreement from $1.3 billion to $1.45 billion . Entered commitment increase and joinder agreement increasing borrowings under term credit agreement from $350 million to $385 million . May further increase commitments under revolving credit agreement by up to $350 million - SEC filing . May borrow up to an additional $65 million under term credit agreement - SEC filing .Filed prospectus persuant to which co may issue, sell shares having aggregate sales price of up to $500 million.  Full Article

Affiliated Managers Group to invest in leading alternative firms
Monday, 6 Jun 2016 06:58am EDT 

Affiliated Managers Group Inc : AMG announces agreement to invest in leading alternative firms . AMG will acquire interests in firms from Petershill Fund I for approximately $800 million in total consideration . Will acquire interests in firms from Petershill Fund I in cash at closing, funded up to 50% in equity . Upon closing, AMG's assets under management expected to increase by $55 billion to nearly $700 billion (pro forma as of march 31, 2016) . Reached definitive agreement with Petershill Fund I to acquire Petershill Fund I's minority equity interests in five alternative investment firms . AMG expects that transaction will increase economic earnings per share by $0.50 to $0.80 in 2017 . On closing senior management at each of firms will continue to hold unchanged majority of equity in each respective business . Reached agreement with Petershill Fund I, a group of investment vehicles managed by Goldman Sachs Asset Management L.P. . AMG's investment in interests representing about half of total transaction value is expected to close during q3 of 2016 .Balance of AMG's investment expected to close by year-end 2016.  Full Article

BRIEF-Affiliated Managers Group names Karen Yerburgh to board

* AMG names Karen Yerburgh to its board of directors Source text for Eikon: Further company coverage: