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Stock Market & Financial Investment News

News Breaks
December 30, 2012
14:59 EDTDUFDuff & Phelps to be acquired by private investor consortium for $15.55 per share
Duff & Phelps Corporation announced that it has entered into a definitive merger agreement under which a consortium comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group will acquire the company for $15.55 per share in cash in a transaction valued at approximately $665.5M. The offer represents a 19.2% premium to the closing price of Duff & Phelps shares on December 28, and 27.3% over the company’s volume weighted average share price during the 30 days ended December 28. The transaction is expected to close in the first half of 2013, subject to customary closing conditions—including the receipt of stockholder and regulatory approvals.
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