Duff & Phelps in £412m takeover
A private investor consortium has agreed to purchase financial advisory and investment banking firm Duff & Phelps for £411.6m (US$665.5m).
The US-based independent firm said in a statement to the market that the transaction requires stockholder and regulatory approvals and is expected to be completed in the first half of 2013. However, the deal provides for a “go- shop” period ending on 8 February, during which the company can solicit and receive alternative proposals. Following completion of the deal, all employees and senior management will continue to remain with the firm.
The acquiring group comprises controlled affiliates of or funds managed by the following companies: