IGM Financial Has Agreed To Buy Saxon Financial

August 2008 | M&A News Alert

The acquisition by IGM Financial, Canada's largest manager and distributor of mutual funds and other asset products, of Saxon Financial was announced on August 5. IGM has agreed to pay Saxon shareholders CAD21.00 (US$20.16) per share, representing a premium of 65% over the company's August 1 closing price of CAD12.70. The transaction is valued at around CAD287mn.

If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Corporate Financing Week please click on the trial link below.