Victory Capital Holdings announced that its stockholders approved all proposals related to the previously disclosed contribution agreement with Amundi at a Special Meeting held on October 11, 2024. This approval is a key milestone in advancing the transaction.
The company anticipates the transaction will close in the first quarter of 2025, marking a significant expansion of its business. Management reaffirmed its guidance of $100 million in annualized expense synergies, with the majority expected to be realized within the first year of closing.
The successful shareholder vote indicates strong internal support for this strategic acquisition, which is poised to enhance Victory Capital's market position and operational efficiency through substantial cost savings.
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