Canada's Bank of Montreal (BMO) has agreed a deal to buy F&C for £708m in cash.
The agreement follows yesterday's announcement from F&C that BMO had made an initial offer for the group, prompting a 24% rise in F&C's share price to 116p. Under the terms of today's offer, F&C shareholders will also be entitled to a 2p per share dividend for the financial year to 31 December 2013. BMO Financial Group CEO Bill Downe said: "With an established pedigree in fixed income investment and broad equity and property capabilities across its European platform, F&C advances BMO's capabilities by adding scope and scale to our well-established portfolio of wealth management busine...
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