Asset manager’s strategy hamstrung its preferred succession plan and saw it miss out on valuable growth stocks ...

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Bank of Montreal has agreed to acquire independent wealth manager Burgundy Asset Management for 625 million Canadian dollars ($456.4 million) in shares.

Bank of Montreal (BMO) (BMO:CA) announced on Thursday an acquisition of the Toronto-based wealth manager Burgundy Asset Management for ~$625M.

BMO to acquire Burgundy Asset Management for $625M plus earnout payment from Tony Arrell, Richard Rooney, and other employee shareholders. Robert Sankey continues to lead Burgundy operating under ...