Baker & McKenzie and Clayton Utz are advising on a merger between two Australian financial planning firms. The combination of Melbourne-based Snowball Group Ltd. and Sydney-based Shadforth Financial Group Ltd. will create a firm with around $14 billion under management.
Under the proposed agreement, Snowball will offer Shadforth shareholders 2.15 Snowball shares for each Shadforth share they hold, an acquisition that would cost Snowball approximately $192 million. The offer will leave Shadforth shareholders owning 71 percent of the merged business. The transaction is subject to shareholder approvals.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
