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Affiliated Managers Group Inc. is buying the parent company of the Aston mutual fund family in an all-stock deal worth nearly $114 million.
Boston-based Affiliated Managers and Highbury Financial Inc., of Denver, said in news releases yesterday that Affiliated will issue nearly 1.75 million shares of Affiliated common stock at the deal’s closing, which is expected in next year’s second quarter.
The transaction’s total is expected to be around $113.6 million, based on Friday’s $64.93 closing price for Affiliated shares.
After the deal closes, employees and management at Chicago-based Aston and subadvisers who manage the company’s funds will remain, Affiliated said.
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