The firms believes that the deal would be complete during the third quarter of current fiscal, after satisfying all the regulatory concerns, including the Toronto Stock Exchange.
Sprott chief executive officer Peter Grosskopf claimed that the firm is committed to broadening its investment capabilities by hiring best-in-class investment managers and the transaction brings to the firm one of Canada’s leading convertible bond arbitrage teams.
"Flatiron will provide an ideal complement to our growing suite of specialty fixed-income funds, which upon completion of this transaction, will represent more than $800 million in AUM," Grosskopf added.
According to the US asset management firm, the investment plan of the Flatiron team has been tailored to provide stable and absolute returns, as well as low volatility through all phases of the economic cycle.
