Acquired on behalf of certain clients, and funds managed by Edmond de Rothschild Group, the acquired business assists clients to make sound financial decisions.
Duff & Phelps CEO Noah Gottdiener said this transaction is in the best interest of the firm’s stockholders, who will receive an immediate and certain cash premium for their shares.
"Importantly, the transaction will be structured to preserve the firm’s independence as we serve our clients in the future," Gottdiener added.
As per terms of the transaction originally signed in January, the Duff & Phelps’ class A stockholders are entitled to receive $15.55 per share of class A common stock in cash without interest.
Following the completion of transaction, all employees and senior management team will continue to remain with the banking firm.
Duff & Phelps was advised by Centerview Partners, Kirkland & Ellis, while the consortium was served by Sandler O’Neill + Partners, Credit Suisse, Barclays, RBC Capital Markets.
Offering services on valuation, transactions, financial restructuring, alternative assets, disputes and taxation, Duff & Phelps employs over 1,000 staff and serves clients in North America, Europe and Asia.
