Victory Capital Shareholders Approve All Ballot Proposals At Special Meeting Of Stockholders; Reaffirms Guidance Of $100M In Expense Synergies That Are Expected To Be Fully Realized Within Two Years With The Majority Achieved Within The First Year
Portfolio Pulse from Benzinga Newsdesk
Victory Capital Holdings, Inc. (NASDAQ:VCTR) announced that its shareholders approved all proposals related to a contribution agreement with Amundi. The company reaffirms its guidance of $100 million in expense synergies, expected to be realized within two years, with the majority in the first year. The transaction is anticipated to close in Q1 2025, pending regulatory approvals.
October 14, 2024 | 12:08 pm
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Victory Capital's shareholders approved proposals for a deal with Amundi, reaffirming $100M in synergies. The transaction is expected to close in Q1 2025, pending regulatory approvals.
The approval of proposals by shareholders is a positive step towards the completion of the transaction with Amundi. The reaffirmation of $100M in synergies suggests potential cost savings and efficiency improvements, which are likely to positively impact VCTR's financial performance. The anticipated closing in Q1 2025, subject to regulatory approvals, adds a timeline for investors to consider.
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