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GMPXF RF Capital Group Inc (PK)

5.2455
0.00 (0.00%)
Last Updated: 15:40:28
Delayed by 15 minutes
Share Name Share Symbol Market Type
RF Capital Group Inc (PK) USOTC:GMPXF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 5.2455 5.15 5.25 0.00 15:40:28

GMP To Buy New York Boutique Brokerage Miller Tabak For $33 Million

06/04/2011 3:51pm

Dow Jones News


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GMP Capital Inc. (GMP.T), one of Canada's largest independent investment dealers, has agreed to buy New York-based fixed-income boutique brokerage Miller Tabak Roberts Securities LLC for about $33 million.

Miller Tabak specializes in institutional sales, secondary trading and research in high-yield and distressed debt, convertible bonds, international bonds, investment grade and asset-backed securities. GMP said it aims to transform the boutique firm's traditional agency platform into a "formidable" primary business.

In addition to the $33 million in cash to be paid, certain key employees of Miller Tabak will receive $15 million of GMP shares in the deal.

In Toronto Wednesday, GMP is down slightly at C$15.79.

The buy is expected to close before the end of GMP's third quarter, which is Sept. 30.

-By Judy McKinnon, Dow Jones Newswires; 416-306-2100; judy.mckinnon@dowjones.com

 
 

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