Fairfax still has the option to exit the deal
Deal far from certain
Reports says there were 234 transactions announced in Q2
Higher valuations and inflow of alternative capital could mean more M&A activity in reinsurance
Once the transaction is completed, Richardson GMP will have $28 billion in assets under administration
The two companies are now joined under the B2B Bank brand
The deal includes the acquisition of IPG, Virtuco Technologies and IPG Insurance
Acquisition will cost National Bank $250 million
The acquisition is expected to be completed on July 10
Knight Capital suffered a US$440 million loss last summer due to a software glitch