While many are expecting a Canadian bank or U.S. financial institution to buy high-net-worth wealth manager Richardson GMP Ltd. (RGMP), the acquirer may turn out to be neither.
GMP Capital Inc., which currently owns a 30-per-cent stake in RGMP, may hold on to the asset, or dig deep to make its own bid for the equity it doesn’t own, according to sources. (Richardson Partners and the adviser network own the other 70 per cent).Report Typo/Error
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- Updated March 23 3:59 PM EDT. Delayed by at least 15 minutes.