Associated Capital Group, Inc. Commences Offer to Exchange
Associated Capital Group, Inc. (AC)
US:NYSE Investor Relations:
associated-capital-group.com/ir
Company Research
Source: Business Wire
RYE, N.Y.--(BUSINESS WIRE)-- Associated Capital Group, Inc. (NYSE: AC) (“AC”) announced today that it has commenced an offer to exchange up to 1,800,000 shares of its Class A common stock, for shares of Class A common stock of GAMCO Investors, Inc. (NYSE: GBL) (“GBL”) that AC beneficially owns. For each share of AC Class A common stock that is validly tendered and not validly withdrawn, an AC stockholder will receive 1.9 shares of GBL Class A common stock (the “exchange ratio”), together with cash in lieu of any fractional share of GBL Class A common stock, without interest and less any applicable withholding taxes. This exchange ratio is fixed and will not be adjusted to reflect share price changes of the AC Class A common stock or GBL Class A common stock prior to the closing of the exchange offer. Based on the closing price of the AC Class A common stock on the NYSE on September 26, 2018 of $39.25, the exchange ra
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