On August 11, 2014, wealthmanagement.com reported that Ladenburg Thalmann (NYSE MKT : LTS) had agreed to acquire Seattle-based broker/dealer KMS Financial Services for $24 million in a cash and stock deal.
On August 11, 2014, wealthmanagement.com reported that Ladenburg Thalmann (NYSE MKT : LTS) has agreed to acquire KMS Financial Services for an aggregate purchase price of $24 million, comprised of $11 million in cash, $8 million in four-year notes and approximately 1.4 million shares of company stock. KMS is a Seattle, Washington-based independent broker/dealer with approximately $14 billion in assets under management. After the transaction, Ladenburg will continue to operate independently and management will remain the same.
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