Guardian Capital Group Limited Gains Final Court Approval for Acquisition
TORONTO — Guardian Capital Group Limited (“Guardian”) (TSX: GCG) (TSX: GCG.A) is thrilled to announce that it has received a final order from the Ontario Superior Court of Justice, giving the green light for its long-anticipated plan of arrangement as per the Business Corporations Act (Ontario). This Arrangement allows Desjardins Global Asset Management Inc., a prominent affiliate of Desjardins Group, to acquire all issued and outstanding common shares, along with Class A shares of Guardian, offering C$68.00 in cash per Share.
Shareholder Approval Marks a New Era
The court’s approval comes after a special meeting of the Shareholders held recently, where an overwhelming majority supported the resolution for the Arrangement. This decisive vote reflects Shareholders' confidence in Guardian's strategic direction and the potential benefits of the acquisition.
Conditions Needed for Arrangement Completion
While the final court order is a significant milestone, several closing conditions must still be met to complete the Arrangement. These conditions are outlined in the arrangement agreement established between Guardian and the Purchaser earlier this year. Regulatory approvals are paramount, particularly under the Competition Act (Canada). Once all conditions are satisfied, Guardian anticipates that the deal will be finalized in the first half of 2026.
About Guardian Capital Group Limited
Guardian Capital Group Limited is a distinguished global investment management company, providing services to institutional, retail, and private clients through its various subsidiaries. By mid-year, Guardian managed C$164.1 billion in client assets and held a proprietary investment portfolio valued at C$1.25 billion. Established in 1962, Guardian has built a strong reputation founded on principles of authenticity, integrity, stability, and trust, contributing to its growth and success over the past six decades. The company’s Common and Class A shares trade on the Toronto Stock Exchange under the symbols GCG and GCG.A, respectively. For a deeper insight into Guardian’s operations, individuals can visit their website.
Understanding Forward-Looking Statements
It’s essential for stakeholders to be aware that this announcement might contain forward-looking information as defined by Canadian securities laws. This encompasses insights into expected operational performance, growth strategy, management's financial positioning, and plans for future developments. While such information is based on management's expectations and experiences, it's important to note that actual future results may diverge significantly from these projections due to various uncertainties and factors.
The Importance of Caution
Guardian urges all stakeholders to exercise caution and not place undue reliance on forward-looking statements. These statements are contingent upon numerous variables, including the company's ability to secure necessary approvals for the Arrangement, as well as the general economic landscape, competition in the investment sector, and shifts in regulatory frameworks. Comprehensive details about Guardian's risk factors and other relevant information can be found in the company's public disclosure documents.
Contact Information
For more general inquiries, individuals can reach out to:
Guardian Capital Investor Relations
investorrelations@guardiancapital.com
416·364·8341 or toll-free at 1·800·253·9181
For media inquiries, please contact:
Mark Noble
mnoble@guardiancapital.com
416-350-8109
Frequently Asked Questions
What is the purpose of the Arrangement approved by Guardian?
The Arrangement is designed to facilitate the acquisition of Guardian's shares by Desjardins Global Asset Management, enhancing the company’s market position and growth potential.
What are the next steps following the court’s approval?
Following the court’s approval, Guardian must satisfy several closing conditions, including acquiring necessary regulatory approvals before finalizing the Arrangement.
When is Guardian expecting the Arrangement to be completed?
Guardian anticipates that the Arrangement will conclude in the first half of 2026, provided all conditions are met promptly.
What are the implications of this acquisition for Guardian's shareholders?
Shareholders will receive C$68.00 per share in cash, and this acquisition could lead to increased company value and growth opportunities in the future.
How can stakeholders stay informed about Guardian’s updates?
Stakeholders can follow announcements on Guardian’s website and subscribe to investor relations communications to receive the latest updates regarding company developments.
