Pivotal questions follow Ladenburg’s four-month sprint to Advisor Group deal
December 18, 2019 by Tobias Salinger
It only took four months — and some haggling the day before the agreement — to negotiate one of the largest deals of the year in wealth management.
Despite hitting a speed bump when Advisor Group and Ladenburg Thalmann were closing in on an agreement, they cruised to a billion-dollar deal. Five days before the deadline of Advisor Group’s exclusive talks to buy Ladenburg, the private equity-backed network cut its offer to $3.23 per share from $3.50, according to Ladenburg’s Dec. 6 proxy filing for shareholders. The final purchase price of $1.3 billion in cash would have dropped by some $100 million under the lower bid.