Bank of Montreal acquired Radicle Group Inc for CAD 195 million.
December 01, 2022
Share
Bank of Montreal (TSX:BMO) entered into a definitive agreement to acquire Radicle Group Inc. for CAD 195 million on July 20, 2022. Upon closing, the Radicle management team and employees will become part of BMO Capital Markets' Global Markets group. On December 1, 2022, BMO issued 1,162,711 shares for CAD 153 million plus cash consideration of CAD 42 million for the acquisition of Radicle Group Inc. The transaction is subject to receipt of required regulatory approvals and other customary conditions. It is expected to close by the end of calendar 2022. BMO Capital Markets acted as financial advisor and Kevin M. Morris, Leah Frank, Ellie Kang, Tom Stevenson, Jerald M. Wortsman, Tyson Dyck,Eli Monas, Blair W. Keefe, Edward T. Fan, and Gwen Watson of Torys LLP acted as legal counsel to BMO. Citi acted as financial advisor and Robb McNaughton, Kent Kufeldt, Cassandra Florio, Salvador Pimentel, Danielle Windt, Sunny Garcha, Karleigh Maag, Stacey Fruin, Sheena Marshall, Peter Horemans, Richard Eisenbraun, Greg Prizent and Jennifer Hannah, Ed Wooldridge, Sameena Sarangi and Renee Sam, Matti Lemmens, Brett Nguyen and Andrew Pozzobon, and Denes Rothschild of Borden Ladner Gervais LLP acted as legal counsels to Radicle.
Bank of Montreal (TSX:BMO) completed the acquisition of Radicle Group Inc. on December 1, 2022.
Bank of Montreal (BMO) is a Canada-based company, which offers a wide range of personal banking services. The Company is engaged in providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to customers across Canada, the United States, and in select markets globally. The Company offers services, such as bank accounts, credit cards, mortgages, loans, investments, creditor insurance, and travel insurance. The Companyâs segments include P&C, U.S. P&C, Total P&C, BMO Wealth Management, BMO Capital Markets, and Corporate Services. Its bank accounts include checking accounts, and savings accounts. Its credit card services include no fee, low interest, cash back, BMO Rewards, AIR MILES, travel, and lifestyle. Its credit cards include BMO eclipse Visa Infinite Card, BMO Ascend World Elite Mastercard, BMO eclipse Visa Infinite Privilege Card, BMO Preferred Rate Mastercard and BMO CashBack Mastercard.