Shares of Duff & Phelps (DUF) ended 2012 on a strong note. Shares of the independent financial advisory and investment banking firm rose 19.7% to $15.62 per share on the final trading day of the year. The firm decided to sell itself to a consortium of private equity firms for $15.55 per share.
The Deal
Duff & Phelps announced that the firm has agreed to sell itself to a private equity firm consortium comprised out of The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and the Edmond de Rothschild Group. The consortium will pay $15.55 per share in cash, valuing the firm at approximately $665.5 million.
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