Guggenheim Partners, a global diversified financial services firm and Claymore Group have entered into an agreement and plan of merger.
As part of the transaction, Claymore Group and its associated entities including Claymore Securities, Claymore Advisors and Claymore Investments in Canada, will become wholly owned subsidiaries of Guggenheim Partners.
Mark Walter, CEO of Guggenheim Partners, said: “The transaction will enhance our retail distribution, product development and marketing prowess, especially among financial advisors.”
However, the terms of the transaction were not disclosed and it is subject to customary regulatory and other approvals. The transaction is expected to close at the end of the third quarter of this year.
Claymore Group is a provider of investment products including exchange traded funds, closed-end funds and unit investment trusts.
