Australia’s Magellan Financial to acquire Barrenjoey for $1.1 bln in stock
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices surge 13% after US-Israel strikes on Iran Gold prices jump 2% amid widening US-Israel conflict with Iran Middle East tensions rise as Iran promises retaliation $100+ oil back in play if Hormuz disruption worsens: analysts (South Africa Philippines Nigeria) Australia’s Magellan Financial to acquire Barrenjoey for $1.1 bln in stock By Ambar Warrick Author Ambar Warrick Stock Markets Published 03/01/2026, 08:06 PM Australia’s Magellan Financial to acquire Barrenjoey for $1.1 bln in stock 0 BARC -4.19% MFG 0.00% Investing.com-- Australian investment manager Magellan Financial Group (ASX: MFG ) said on Monday it had entered a deal to merge with peer Barrenjoey Capital in an all-stock deal. The deal values Barrenjoey at A$1.62 billion ($1.1 billion) on an equity value basis, Magellan said in a statement. Get more breaking news on Australian companies by subscribing to InvestingPro Magellan said it will hike its stake in Barrenjoey through an institutional placement of ordinary shares prior to the merger. Magellan held a 40% stake in Barrenjoey, having funded part of the company’s founding in late-2020. European bank Barclays PLC (LON: BARC ) also holds a stake in the firm. Magellan will purchase a 10% stake in Barrenjoey from Barclays, the Australian company said on Monday.
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