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BRIEF-Pendal Group To Buy Thompson, Siegel & Walmsley For US$320 Mln

05/09/2021 19:15
BRIEF-Pendal Group To Buy Thompson, Siegel & Walmsley For US$320 Mln

- Pendal Group Ltd PDL.AX:

  • ACQUISITION OF TSW

  • DEAL FOR US$320 MILLION

  • TO ACQUIRE 100% OF THOMPSON, SIEGEL & WALMSLEY LLC

  • CO'S CONSOLIDATED FUM WILL INCREASE BY 30% TO A$132 BILLION AFTER DEAL

  • DEAL WILL BE FUNDED WITH COMBINATION OF EQUITY, DEBT AND EXISTING CAPITAL

  • DEAL EXPECTED TO BE DOUBLE DIGIT EPS ACCRETIVE IN FIRST FULL YEAR POST COMPLETION

  • TSW'S CEO, JOHN REIFSNIDER, WILL BE APPOINTED CEO OF PENDAL'S COMBINED US BUSINESS

  • TO FUND ACQUISITION, CO UNDERTAKING FULLY UNDERWRITTEN PLACEMENT TO RAISE $190 MILLION THROUGH ISSUE OF 27.9 MILLION NEW FULLY PAID SHARES

Source text for Eikon: ID:nASX5Z2L5q

Further company coverage: PDL.AX


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