It was announced on July 9, 2001 that Oppenheimer Acquisition Corp., the parent company of Oppenheimer Funds, had reached an agreement to purchase Tremont Advisers, for $19 a share.
The approximate value of the transaction is $140m.
Under the terms of the agreement, Tremont will become an independent, wholly-owned subsidiary of Oppenheimer Acquisition Corp.
The acquisition is expected to close early in the fourth quarter of 2001.
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