IOOF to Take Over Plan B

July 19, 2012

On July 13, 2012, The West Australian reported that IOOF will takeover advisory firm Plan B for $49.1 million.


On July 13, 2012, The West Australian reported that fund manager IOOF will take over advisory firm Plan B.  The total purchase price values the company at $49.1 million, based on a payment of 60 cents per Plan B share, minus a 3 cent per share final dividend to be issued by the company.  The transaction will increase IOOF’s funds under management by approximately $2.2 billion and will enable IOOF to expand its business in New Zealand’s retirement savings market, as well as in West Australia and Queensland. 

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Categories

Investment Manager M&A, Transactions