Sunday, December 30, 2012

Carlyle, Others Agree to Buy Duff & Phelps -

Carlyle, Others Agree to Buy Duff & Phelps - "Investment-banking and valuation-advisory firm Duff & Phelps Corp. DUF +1.87% said it agreed to be acquired for about $665.5 million by a group that includes private-equity firm Carlyle Group CG -1.30% LP.

Terms of the deal announced Sunday call for Duff & Phelps shareholders to get $15.55 a share, about a 19% premium to Friday's closing price of $13.05 in New York Stock Exchange composite trading.

The 80-year-old company, based in New York, has boosted revenue and profit recently, especially in its mergers-and-acquisitions and global restructuring advisory businesses. Duff & Phelps has more than 1,000 employees, growing through acquisitions of similar businesses in the U.S., U.K. and Canada.

Olivier Sarkozy, the Carlyle managing director who leads the firm's financial-services group, said Duff & Phelps will get "significant growth opportunities" from "regulatory demands, implementation of new accounting policies and requirements for increased corporate disclosure and third-party validation.""

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