Victory Capital strikes $7 billion deal for First Eagle Investments; shares rise - VCTR News | RalliesVictory Capital strikes $7 billion deal for First Eagle Investments; shares rise
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VCTR• Victory Capital to acquire First Eagle Investments
- Shares of asset manager Victory Capital VCTR.O were up 3.6% to $119.5 in early morning trading.
- VCTR will buy rival First Eagle Investments in a $7 billion cash-and-stock deal.
- The deal includes about $4.4 billion in cash and $2 billion in newly issued VCTR equity.
- VCTR has secured fully committed financing for the transaction from BofA Securities and RBC Capital Markets.
- PJT Partners and RBC Capital Markets advised Victory Capital on the deal; UBS Investment Bank and BofA Securities advised First Eagle.
- Including the session's moves, the stock is up 88.1% year to date.
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