Federated to Buy Kaufmann
From Wall Street Journal
The buying spree continues as Federated Investors has said it will be buying the $3.7 billion Kaufmann Fund. The price tag may be as high as $400 million, according to the paper. Pittsburgh-based Federated will pay roughly $200 million in cash for the fund, and then make contingent payments ranging from $120 million to $220 million based on the fund's revenue growth over the next six years. If growth tops six percent in the first year and averages 12 percent during the subsequent five the maximum payment will be triggered. Lawrence Auriana and Hans Utsch will keep their jobs as managers of the fund.
Subscribe to MFWire.com's News Alerts [click]
Email & Route 
Print 
Raw XML
