BlueBay Asset Management Plc (BBAY.L) Monday announced that it reached an acquisition deal with Royal Bank of Canada or RBC (RY,RY.TO). Under the deal, RBC will acquire the entire issued share capital of BlueBay for approximately GBP 963 million.
BlueBay shareholders will be entitled to receive 485 pence in cash for each BlueBay share. In addition, BlueBay shareholders on the register at November 5 will be entitled to receive a proposed dividend of 7.5 pence per BlueBay share in respect of the financial year ended June 30. The total amount per BlueBay share receivable by BlueBay shareholders entitled to both the offer consideration and the dividend is 492.5 pence.
The offer price of 485 pence per BlueBay share represents a premium of 29.1% to the closing price of a BlueBay share of 375.70 pence on October 15, the last business day prior to the announcement date.
It is intended that the acquisition will be implemented by way of a court sanctioned scheme of arrangement, which will be posted to BlueBay shareholders in the first half of November and will become effective by the end of December.
BlueBay also stated that its directors have unanimously recommended BlueBay shareholders to vote in favor of the resolutions to be proposed at the BlueBay shareholder meetings to be convened to approve the acquisition.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.