Morgan Stanley buying Calgary-based Solium Capital for $1.1 billion

CALGARY — U.S. bank Morgan Stanley has signed a deal to buy Calgary-based Solium Capital Inc. in a cash deal valued at about $1.1 billion.

Under the agreement, Morgan Stanley will pay $19.15 per share for Solium, which helps companies manage employee stock plans.

article continues below

Solium shares closed at $13.36 on the Toronto Stock Exchange on Friday.

Solium CEO Marcos Lopez says the company's leadership team is expected to remain in place.

The deal is subject to the approval by a two-thirds majority vote by shareholders. All of the directors of Solium, who collectively control 19 per cent of the company, have agreed to support the purchase.

Subject to regulatory approvals, the deal is expected to close in the second quarter of 2019.

Companies in this story: (TSX:SUM)

Read Related Topics

© Copyright Times Colonist
  • Discover Magazine

    Click here to see the latest Discover Magazine and our other special publications

Most Popular

  • CARRIERS WANTED!

    The Times Colonist is looking for newspaper carriers to work in the Reader Sales and Service Department.


Find out what's happening in your community.