Ladenburg Thalmann Financial (LTS) Reports In-Line Q2 EPS

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Go back to Ladenburg Thalmann Financial (LTS) Reports In-Line Q2 EPS

Ladenburg Thalmann (LTS) to Acquire KMS Financial Services in $24M Deal

August 11, 2014 10:05 AM EDT

Ladenburg Thalmann (NYSE: LTS) has signed a definitive agreement to acquire KMS Financial Services, Inc. (KMS), a leading Seattle-based independent broker-dealer and investment advisor with a strong presence in the Pacific Northwest.

Under the terms of the transaction, Ladenburg will pay approximately $24 million, consisting of $11 million of cash, $8 million of four-year notes and 1,440,922 shares of Ladenburg common stock. This transaction is part of Ladenburgs ongoing strategy to strengthen its position as an industry-leading network of independent brokerage and advisory firms and its market share in the industry.

Founded in 1971, KMS has approximately 325... More