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Stock Market & Financial Investment News

News Breaks
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.
News For LTS From The Last 14 Days
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September 23, 2014
10:39 EDTLTSLadenburg Thalmann price target raised to $5 from $4.25 at Barrington
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September 22, 2014
09:02 EDTLTSLadenburg Thalmann to acquire Securities Service Network for $45M
Ladenburg Thalmann Financial Services has signed a definitive agreement to acquire Securities Service Network, an independent broker-dealer, registered investment advisor and insurance agency based in Knoxville, TN. Under the terms of the acquisition, Ladenburg will pay $45M, consisting of a $25M cash payment and $20M of four-year notes. This transaction is part of Ladenburg’s ongoing strategy to strengthen its position as an industry-leading network of independent brokerage and advisory firms and its market share in the industry. Ladenburg’s acquisition of SSN is expected to close later this year or early 2015, and is subject to regulatory approval and other customary closing conditions. The transaction does not require approval by Ladenburg shareholders. Graubard Miller acted as legal counsel for Ladenburg for the acquisition, and Bass, Berry & Sims PLC served as counsel for SSN.

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