First Eagle Investments to Acquire Diamond Hill for $473 Million

Diamond Hill Investment Group, Inc. (DHIL) entered a merger agreement on December 11, 2025, to be acquired by First Eagle Investments for $473 million.

Deal Structure:

First Eagle will acquire all outstanding shares of Diamond Hill for $175 per share in an all-cash transaction, representing a premium of 48.96% from the stock’s last close.

Company Profile:

Diamond Hill is an asset manager that invests on behalf of clients using a valuation-driven, long-term approach across U.S. and international equities, alternatives, and fixed income. It provides investment advisory and fund administration services through mutual funds, separate accounts, and other investment programs, managing roughly $32.4 billion of assets.

First Eagle is an investment management firm that applies active, fundamentals-driven strategies with a focus on downside protection, managing about $176 billion across equity, fixed income, alternative credit, and multi-asset portfolios.

Deal Details and Timeline:

Diamond Hill will keep its headquarters in Columbus and continue operating under its current brand.

The deal is expected to close by the third quarter of 2026. Diamond Hill will stop paying quarterly dividends until the deal is completed.

The deal includes a 35-day “go-shop” period, continuing through January 14, 2026.

Broadhaven Capital Partners served as Diamond Hill’s financial advisor. Diamond Hill also received legal advice from Davis Polk & Wardwell and Vorys, Sater, Seymour & Pease. UBS Investment Bank advised First Eagle Investments, which was supported by legal counsel from Willkie Farr & Gallagher.

Deal Metrics:

For a more detailed understanding of this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Diamond Hill Investment Group, Inc. (DHIL) by First Eagle Investments

Each merger or acquisition Deal Metrics page includes:

• A history chart of the merger spread from the announcement through completion or failure.
• Important events as the merger progresses such as HSR period expiry, regulatory approvals, shareholder votes, etc.
• News and SEC filings updates.
• A comprehensive history of deal updates.
• And many more relevant details.

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Editor’s Note: Baranjot Kaur contributed to this article