Acquisition bolsters the bank’s presence in the U.S.
Combined company will be known as Piper Sandler Companies
Decision to sell is consistent with the bank's strategy of geographic de-risking
The bank will record a loss of approximately $400 million after tax
Acquisition includes 12 advisors and approximately $280 million in assets
Executives share insights into next steps for the wealth management firm
US$669 million deal expected to close in Q3
The number of deals is down from the previous quarter, but the value of transactions has increased
Most Canadian companies expect revenue growth of more than 10% this year
The deal is valued at approximately US$300 million