AllianceBernstein to Acquire W.P. Stewart & Co.

August 19, 2013

On August 15, 2013, AllianceBernstein L.P. (NYSE: AB) announced that it had reached an agreement to acquire W.P. Stewart & Co., Ltd., an equity investment manager, for $12 per share in cash, plus contingent consideration of $4 per share if W.P. Stewart’s AUM reaches $5 billion on or prior to the third anniversary of the closing.


On August 15, 2013, AllianceBernstein L.P. (NYSE: AB) announced that it had reached an agreement to acquire W.P. Stewart & Co., Ltd., an equity investment manager with approximately $2 billion in assets under management for institutional and retail clients.  W.P. Stewart’s shareholders will receive $12 per share, plus transferable contingent value rights worth an additional $4 per share if W.P. Stewart’s investment services reach $5 billion on or prior to the third anniversary of the closing.  The transaction is expected to close in approximately 4 to 6 months and is subject to customary closing conditions. 

To read the press release, please click here.


Categories

Investment Manager M&A, Transactions