Natixis Global Asset Management has signed an agreement with Canadian asset manager NexGen Financial for purchasing all of the latter’s outstanding common shares for consideration comprising C$7.25 cash per common share, for an enterprise value of nearly C$35m.
The C$7.25 price per share represents a 107% premium to NexGen’s closing share price of C$3.50 on October 23 of this year.
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NexGen has over C$919m in assets under management as of Sept. 30, 2014, while Natixis manages over $930bn in assets as of June 30, 2014 through its global affiliates.
Completion of the transaction is subject to customary closing conditions, and regulatory approvals.
