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Investment Brokerages M&A image Investment Brokerages M&A » By The Online Investor Staff, updated Sun., Oct. 17, 12:56 PM Recent mergers and acquisitions in the Investment Brokerages M&A category.

Slide #40. RCS Capital Corporation Summit Financial Services

Acquirer: RCS Capital Corporation (RCAP)
Acquiree: Summit Financial Services (SFNS)
Details: RCS Capital Corporation ("RCAP") (NYSE: RCAP) announced today that on November 16, 2013, RCAP and a newly formed wholly-owned subsidiary of RCAP entered into an agreement and plan of merger (the "Merger Agreement") with Summit Financial Services Group, Inc. ("Summit") (OTC Bulletin Board: SFNS) by which RCAP will acquire Summit for $49.0 million, or approximately $1.43 per share (as more fully defined in the merger agreement). Following the merger, Summit and its subsidiaries, including its SEC-registered broker-dealer and FINRA-member subsidiary Summit Brokerage Services, Inc., will continue to operate under current management and the "Summit" brand.

RCS Capital is a holding company. Co. operates through its subsidiaries in six segments: Independent Retail Advice, which provides independent retail advice, financial products and investment solutions; Wholesale Distribution, which provides financial products and investment solutions through its wholesale distribution; Investment Banking, Capital Markets and Transaction Management Services, which provides direct investment programs; Investment Management, which provides investment advisory and distribution to the Hatteras family; Investment Research, which provides due diligence on investment products; as well as Corporate and Other, which includes its crowdfunding investment platform.

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Company Name: 
RCS Capital Corp
Website: 
www.rcscapital.com
Sector: 
Investment Brokerages
 

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