Ladenburg Thalmann to Merge with Advisor Group

January 9, 2020

On November 11, 2019, Ladenburg Thalmann Financial Services Inc. and Advisor Group, Inc. announced that the companies had entered into a definitive merger agreement.

Pursuant to the agreement, Advisor Group, Inc. (“Advisor Group”) will acquire Ladenburg Thalmann Financial Services Inc. (“Ladenburg”) through a cash merger. Each outstanding share of Ladenburg common stock will be converted into the right to receive $3.50 in cash. The total value of the transaction is approximately $1.3 billion. Jamie Price, the current CEO and President of Advisor Group, will continue to lead the combined organization along with senior executives from both Advisor Group and Ladenburg. The transaction has been approved by Ladenburg’s Board of Directors and, subject to customary closing conditions, including Ladenburg shareholder approval and regulatory approval, is expected to close in the first half of 2020.

Advisor Group, headquartered in Phoenix, is a network of independent financial advisors that offers securities and investment advisory services through its four subsidiaries. It has over 7,000 advisors and $271 billion in client assets.

Ladenburg (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK, LTSH) is a Miami-based financial services company. Its subsidiaries include several advisory and brokerage firms, an independent life insurance broker, a full-service annuity processing and marking company and an investment bank.

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Investment Manager M&A, Transactions