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Fiera Capital Corporation completes acquisition of Integrated Asset Management Corp.
Fiera Capital Corporation completes acquisition of Integrated Asset Management Corp. ...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n\n\nFiera Capital Corporation completes acquisition of Integrated Asset Management Corp.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, July 3, 2019\n\n\n\nMONTREAL, July 3, 2019 /CNW Telbec/ - Fiera Capital Corporation (\"Fiera Capital\" or the \"Firm\") (TSX: FSZ) and Integrated Asset Management Corp. (\"IAM\") (TSX: IAM) announced today that Fiera Capital has completed its previously announced acquisition of IAM pursuant to a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the \"Transaction\").\nPursuant to the Transaction, Fiera Capital acquired all of the outstanding common shares of IAM (\"IAM Shares\") for total consideration of approximately $74 million, representing total IAM enterprise value of $64 million and $10 million of adjusted cash. The consideration paid by Fiera Capital to IAM shareholders consisted of $55.5 million in cash and approximately $18.5 million in Class A subordinate voting shares of Fiera Capital (\"Fiera Shares\"). A total of 1,614,297 Fiera Shares were issued at a price of $11.4594 per share, determined using the volume-weighted average trading price of the Fiera Shares on the Toronto Stock Exchange (the \"TSX\") over the five trading days ending on June 28, 2019.\nIAM shareholders who elected to receive the share consideration will receive 0.2247936192 of a Fiera Share in exchange for each IAM Share. IAM shareholders who elected to receive the combined cash and share consideration or who did not file an election by the June 12, 2019 election deadline will receive the combined consideration of $1.932 in cash and 0.0561984048 of a Fiera Share in exchange for each IAM Share. IAM shareholders who elected to receive the cash consideration were subject to proration and will receive approximately $2.29386 in cash and 0.0246208102 of a Fiera Share in exchange for each IAM Share. The Transaction generally offered IAM shareholders who would otherwise be subject to tax on the disposition of their shares an opportunity to participate in the value-added generated by th...