Edition:
United Kingdom

Victory Capital Announces Termination Of Agreement To Acquire Harvest Volatility Management


Monday, 22 Apr 2019 

April 22 (Reuters) - Victory Capital Holdings Inc ::VICTORY CAPITAL REPORTS ACQUISITION OF USAA ASSET MANAGEMENT COMPANY ON TRACK TO CLOSE ON TIME, AND ANNOUNCES TERMINATION OF AGREEMENT TO ACQUIRE HARVEST VOLATILITY MANAGEMENT, LLC.VICTORY CAPITAL HOLDINGS INC - USAA ASSET MANAGEMENT COMPANY HAD ASSETS UNDER MANAGEMENT (AUM) OF $70 BILLION AS OF MARCH 31, 2019..VICTORY CAPITAL HOLDINGS INC - ON TARGET TO ACCOMPLISH $100 MILLION SYNERGY GOAL FOR ACQUISITION WITHIN PREVIOUSLY COMMUNICATED TIMEFRAMES.VICTORY CAPITAL HOLDINGS INC - CO, HARVEST HAVE MUTUALLY AGREED TO TERMINATE PREVIOUSLY ANNOUNCED AGREEMENT FOR VICTORY CAPITAL TO ACQUIRE HARVEST..VICTORY CAPITAL HOLDINGS INC - NEITHER VICTORY CAPITAL NOR HARVEST WILL BE RESPONSIBLE FOR ANY TERMINATION FEE TO OTHER PARTY.VICTORY CAPITAL HOLDINGS INC - CONTINUES TO HAVE FULLY COMMITTED DEBT FINANCING FOR USAA ASSET MANAGEMENT COMPANY ACQUISITION..VICTORY CAPITAL HOLDINGS INC - PLANS TO RAISE LESS DEBT THAN ORIGINALLY PLANNED DUE TO TERMINATION OF HARVEST AGREEMENT..VICTORY CAPITAL - PRO-FORMA NET DEBT / EBITDA RATIO AT CLOSE OF USAA ASSET MANAGEMENT COMPANY TRANSACTION IS EXPECTED TO BE APPROXIMATELY 2.9X.. 

Company Quote

17.85
-0.09 -0.50%
23 May 2019