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Investing.com-- Evercore Partners Inc (NYSE:EVR) said on Wednesday it entered an agreement to buy UK-based advisory firm Robey Warshaw for about $196 million in stock and cash.
Evercore said the consideration will be payable in two tranches, with the first in Evercore stock on closing and the second at the one-year anniversary of the deal in stock or cash. Evercore will also potentially make performance-based payments over the coming years.
Evercore said it expects the deal to be accretive towards its adjusted and GAAP earnings per share in its first full year, with the deal expected to close in the fourth quarter of 2025.
The acquisition comes as Evercore moves to challenge its bigger U.S. rivals in expanding into Europe, with Robey Warshaw among the most well-regarded M&A advisors in London.
The firm was founded by former executives from Morgan Stanley (NYSE:MS) and UBS, and has overseen major deals such as RB InBev’s 79 billion euro acquisition of SABMiller (LON:SAB), SoftBank’s 24 billion euro purchase of chip designer Arm, and the $27 billion acquisition of Refinitiv by the London Stock Exchange Group (LON:LSEG).