Guardian Capital shareholders approve C$68 per share acquisition deal

Guardian Capital Group Limited (TSX: GCG) (TSX: GCG.A) announced that shareholders approved a plan of arrangement for Desjardins Global Asset Management Inc. to acquire all outstanding shares for C$68.00 per share in cash at a special meeting held October 23, 2025.

The arrangement resolution received approval from 99.19% of votes cast by shareholders. When voting by share class and excluding certain parties, 86.83% of common shares and 99.84% of Class A shares voted in favor of the transaction.

The acquisition requires two-thirds approval from holders of both share classes voting together, and simple majority approval from each class voting separately, excluding votes from specified parties under Multilateral Instrument 61-101 rules. Both thresholds were met.

Completion remains subject to final court approval and regulatory approvals, including under the Competition Act (Canada). Guardian plans to seek a final court order at a hearing scheduled for October 28, 2025. The transaction is expected to close in the first half of 2026, subject to satisfying remaining closing conditions.

Desjardins Global Asset Management is an affiliate of Desjardins Group. The arrangement agreement was signed August 28, 2025. Certain shareholders entered into equity rollover agreements and their shares are excluded from the cash acquisition.

Guardian Capital is a global investment management company that had C$164.1 billion in total client assets as of June 30, 2025, while managing a proprietary investment portfolio valued at C$1.25 billion. The company was founded in 1962 and trades on the Toronto Stock Exchange.

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