Royal Bank of Canada and BlueBay Asset Management have
reached an agreement whereby the bank will acquire the
fixed-income credit manager, in a deal that values BlueBay's
total shares at around £963 million.
BlueBay shareholders will receive formal documentation next
month, with the acquisition expected to be implemented via a
court-approved arrangement. The BlueBay board has unanimously
recommended that shareholders vote in favour of the deal, which
is expected to close by the end of December. The transaction
will be funded using RBC's existing cash resources....