Cetera to Buy Avantax in $1.2 Billion Deal

Cetera Holdings will buy Avantax in an all-cash transaction valuing Avantax at approximately $1.2 billion, inclusive of Avantax’s net debt, the wealth management companies said Monday.

Shareholders of Avantax (ticker: AVTA) will receive $26 in cash per common share. The purchase price represents a premium of approximately 30% to the closing price of shares of Avantax common stock on Sept. 8, 2023, the companies said.

( This news/press release has not been altered by investment.net, apart from the headline, and has been obtained from a syndicated source:- https://www.barrons.com/advisor/articles/cetera-to-buy-avantax-1736b122)