Raymond James Financial
completed the acquisition of Canadian investment firm
for $48 million in cash and 1 million common shares.
Based on the current stock price of Raymond James, the acquisition is valued at about $84.25 million. Goepel McDermid, which is based in Vancouver, will change its name to Raymond James Ltd. in January.
Shares of Raymond James, St. Petersburg, Fla., recently traded at $36.25, down $1.69, or 4.5%, in
New York Stock Exchange