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Stock Market & Financial Investment News

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August 1, 2014
08:01 EDTLTSLadenburg Thalmann acquires Highland Capital Brokerage for approximately $42M
Ladenburg Thalmann has acquired Highland Capital Brokerage, an independent insurance brokerage company that delivers life insurance, annuities and long-term care solutions to investment and insurance providers. Ladenburg acquired Highland for approximately $42M. The purchase price for the common stock of Highland was $12.7M, consisting of approximately $3.6M in cash and 2,540,762 shares of Ladenburg common stock. In addition, Ladenburg repaid Highland’s bank facility of $22.3M and $7M of Highland’s promissory notes remain outstanding.
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