March 24 (Reuters) - Investment-related services provider Computershare Ltd (CPU) said on Wednesday it would acquire U.S.-based trust services provider Wells Fargo Corporate Trust Services for $750 million.
The Melbourne-based company also announced an A$835 million ($637.11 million) entitlement offer to help fund the acquisition.
The acquisition is expected to be accretive to earnings per share by at least 15% on a constant currency and pro forma basis, the company said in a statement, adding that the acquired entity would generate a return of over 15% on invested capital by FY25.
Computershare also expects $80 million in pretax annual cost savings over a five-year period after the completion of the acquisition. ($1 = 1.3106 Australian dollars)
March 24 (Reuters) - Investment-related services provider...
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Last
$40.12 |
Change
-0.100(0.25%) |
Mkt cap ! $23.20B | |||
| Open | High | Low | Value | Volume |
| $40.17 | $40.79 | $39.97 | $21.36M | 531.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 192 | $40.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.22 | 250 | 1 |
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| CPU (ASX) Chart |