Private equity firm GTCR has entered into a merger with wealth management platform AssetMark Financial (AMK) for $2.7 billion.
AssetMark shareholders will receive $35.25 per share in cash from the private equity firm, representing a 1% premium from the stock’s last close. The risk arbitrage spread on the deal is just north of 4%, which indicates that the market expects this deal to close later this year with significant hurdles.