The directors of Charles Stanley Group and Raymond James Financial have agreed the terms of the M&A deal.
Raymond James UK Wealth Manager will acquire the entire issued and to-be issued share capital of Charles Stanley.
This has been approved by the high court of England and Wales as well, effective from 20 January 2022, Charles Stanley said in a London Stock Exchange filing.
The acquisition was first announced in July 2021, when Raymond James agreed to acquire the wealth firm for a total consideration of £278.9m ($379.3m, €334.3m).
But, on 13 December 2021, the two companies were forced to push back the completion date to 19 January 2022, as opposed to 20 December 2021, as they didn’t believe they wouldn’t receive approval from the Financial Conduct Authority in time.
The green light from the regulator arrived on 23 December 2021, with completion expected on 21 January 2022.
