Feb 1 (Reuters) – Canada’s monetary providers agency Canaccord Genuity Group Inc (CF.TO) mentioned on Wednesday it could purchase Mercer’s personal wealth enterprise within the nation for an undisclosed sum.
The deal, which is predicted to shut throughout the subsequent three months, will add almost $1.5 billion to the whole consumer property of Canaccord’s Wealth Administration unit.
A gaggle led by the administration of Canaccord Genuity mentioned on Jan. 9 it could launch a takeover bid for the Canadian monetary providers agency, valuing it at almost C$1.13 billion after it misplaced 44% of its market capitalization final yr.
Canaccord provides wealth administration, funding banking and dealer analysis providers.
Reporting by Mehnaz Yasmin in Bengaluru
Modifying by Vinay Dwivedi
Our Requirements: The Thomson Reuters Belief Ideas.