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Mergers & Acquisitions
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: UMB Financial Corporation
Actual Acquirer: Scout Investment Advisors, Inc.
Target: Reams Asset Management Co. LLC
Seller: Reams Asset Management Co. LLC
Deal Type: Securities & Investments Company
Agreement Date9/1/2010
Announcement Date9/2/2010
Announced Deal Value ($M)43.00
Announced Deal Value Per Share ($)NA
Completion Date11/30/2010
Consideration Breakout
Cash ($M)44.7
Contingent Payments ($M)33.5
Deal Pricing Ratios
Price / Book (%)NANA
Deal Value / Revenues (x)NANA
Price / Earnings (x)NANA
Price / EBITDA (x)NANA
Price / Assets Under Mgmt (%)0.440.79
Deal Terms
Description of Consideration
UMB Financial Corp. unit Scout Investment Advisors Inc. paid initial cash payment of $44.7 million and will pay certain future payments to acquire Reams Asset Management Co. LLC. Reams will also be entitled to receive $1 million worth of unregistered common stock of UMB if at least ninety-five percent of the revenue of Reams is retained by Scout on the determination date. On November 30, 2010, the purchase agreement was amended where Reams will be entitled to receive a $1 million cash payment instead of unregistered common stock of UMB. Additional earn-out payments could also be paid by UMB based on Reams' revenue and pre-tax income during the next five years. This earn-out liability was $21.4 million at December 31, 2012.
Percent Acquired (%)NA
Purchase MethodAcquisition
Merger of Equals?NA
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesBerkshire Global Advisors LP

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesStradley Ronon Stevens & Young
SellerYesVedder Price PC

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