A consortium has completed its buy of Duff & Phelps Corp. in a deal valued at about $665.5 million. The group includes The Carlyle Group, Stone Point Capital LLC, Pictet & Cie, on behalf of certain of its clients, and funds managed by Edmond de Rothschild Group. Duff & Phelps is a financial advisory and investment banking firm.
Duff & Phelps Corporation (“the Company”) today announced the completion of its acquisition by a consortium comprising The Carlyle Group, Stone Point Capital LLC, Pictet & Cie, on behalf of certain of its clients, and funds managed by Edmond de Rothschild Group in an all-cash transaction valued at approximately $665.5 million.
As previously disclosed, the transaction was approved by the Company’s stockholders at a special meeting of stockholders held April 22, 2013. Pursuant to the terms of the merger agreement, the Company’s Class A stockholders are entitled to receive $15.55 per share of Class A common stock in cash without interest. As a result of the merger, the Company’s Class A common stock will no longer be listed for trading on the New York Stock Exchange.
Stockholders of record will receive a letter of transmittal and instructions on how to surrender their shares of the Company’s Class A common stock in exchange for the merger consideration. Stockholders of record should wait to receive the letter of transmittal before surrendering their shares.
Duff & Phelps:
· M&A: Centerview Partners
· Legal: Kirkland & Ellis LLP
· M&A: Sandler O’Neill + Partners, L.P. (Lead Advisor), Credit Suisse, Barclays, RBC Capital Markets
· Financing: Credit Suisse, Barclays, RBC Capital Markets
· Legal: Wachtell, Lipton, Rosen & Katz
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About Duff & Phelps
As a leading global financial advisory and investment banking firm, Duff & Phelps leverages analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in valuation, M&A and transaction advisory, restructuring, alternative asset advisory, disputes, taxation and transfer pricing – with more than 1,000 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC; Pagemill Partners; and GCP Securities, LLC. Member FINRA/SIPC. M&A advisory services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorized and regulated by the Financial Conduct Authority. For more information, visit www.duffandphelps.com.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.