Saturday, 30 July 2016
Last updated 5 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.