Westwood Holdings Group Inc

NYSE:WHG  
11.27
-0.44 (-3.76%)
Mergers / Acquisitions

Westwood Acquires Salient Partner' Asset Management Business

Published: 11/18/2022 23:18 GMT
Westwood Holdings Group Inc (WHG) - Westwood Acquires Salient Partners’ Asset Management Business.
Westwood Holdings Group Inc - Acquired Salient's Asset Management Business for an Upfront Payment of $35 Million in Cash.
Westwood Holdings Group Inc- Will Fund Upfront Payment Using Cash on Hand and Will Maintain Its Debt-free Balance Sheet.
Westwood Holdings Group Inc - Transaction is Expected to Result in Significant Accretion to Economic Earnings per Share.
Westwood Holdings Group Inc - Expects Economic EPS Accretion of Approximately 100% in 2023, First Full Year Following Transaction Closing.
Westwood Holdings Group- Related to Transaction, Westwood Will Award Restricted Stock Grants Aggregating $5 Million to Six Members of Energy Infrastructure Team.
Westwood Holdings Group Inc- Newly Acquired Investment Strategies Will Be Marketed Under Westwood Salient and Westwood Broadmark Names.
Westwood Holdings Group Inc - Westwood, Salient and Broadmark Portfolio Management and Distribution Teams Will Remain Unchanged.