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RCAP vs. ETF Alternatives
RCS Capital Corp is a holding company that owns an economic and controlling interest in the subsidiaries.
Country: United States
Thursday, Jan 1612:00 PM
Thursday, Jan 1612:00 PM| Comment!
- RCS Capital (RCAP) agrees to acquire broker-dealer Cetera Financial Group from Lightyear Capital for $1.15B in cash; shares are halted.
- Following the transaction, Cetera will become part of RCAP's retail advice platform, complementing the recent acquisitions of Summit Brokerage Services and Investors Capital Holdings.
Monday, Oct 282013, 7:11 AM
Monday, Oct 282013, 7:11 AM| Comment!
- The purchase price of $52.5M is comprised of cash and RCAP common stock, and - following the merger - ICH and its businesses will continue to operate under the "ICH" brand and under the leadership of its current management team. The deal is expected to close in 2014 Q1. The sale price looks to be about a 10% premium to ICH's Friday close.
- The chairman of RCAP is none other than American Realty Capital Properties (ARCP) head Nicholas Schorsch.
- Press release.
Wednesday, Oct 22013, 10:17 AM
Wednesday, Oct 22013, 10:17 AM| Comment!
- Broker-dealer Investors Capital (ICH +16%) was temporarily halted due to volatility (but just reopened) after agreeing to be sold to RCS Capital (RCAP +0.2%) for as yet undisclosed terms.
- With money to invest following its June IPO, RCAP has been busy, and yesterday announced an agreement to purchase the Hatteras Funds Group.