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Gerald Sheff, Co-Founder & Chairman - Gluskin Sheff + Associates Inc. photographed at the company's offices on Bay St., Toronto October 19, 2010.
Gerald Sheff, Co-Founder & Chairman - Gluskin Sheff + Associates Inc. photographed at the company's offices on Bay St., Toronto October 19, 2010.
(Fernando Morales/The Globe and Mail)

Analyst: Odds of a Gluskin Sheff takeover have increased

Gluskin Sheff + Associates Inc.’s founders have dramatically reduced their stake in the firm, driving speculation that a takeover may be more likely.

The turning point for Gluskin Sheff came in late September when co-founders Ira Gluskin and Gerald Sheff sold a big chunk of their ownership, in a bought deal worth $122-million. The offering, which closed Wednesday, led to an elimination of the firm’s dual class shares and reduced the co-founders’ stake in the company from close to 60 per cent to 2 per cent each.