Tuesday, 4 August 2015
Last updated 17 hours ago
Jan 3 2014 | 10:51am ET
A leading North Carolina hedge fund's agreement to be acquired by a New York-based real-estate advisory firm will go to its shareholders later this month.
Raleigh-based Hatteras Funds Group said its investors would vote on its deal, worth up to $40 billion, with RCS Capital Corp. on Jan. 21. The $2 billion firm accepted RCS' offer, which includes $30 billion in cash up front, in October.
RCS could pay an additional $10 billion over the next three years.
Should investors approve the deal, Hatteras will continue to operate independently of RCS. The hedge fund said that being part of RCS, which went public in June, will give it the "financial resources" it needs to expand its platform.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…