Magellan to transform with A$1.6b Barrenjoey deal
The deal goes against the industry trend, and integrates investment banking and funds management.
The deal values Barrenjoey at more than Magellan’s current market capitalisation.
ASX-listed fund manager Magellan Financial Group has unveiled a surprise bid for up and coming investment bank Barrenjoey which values the target at A$1.6 billion ($1.9b).
Magellan already owns 36% of Barrenjoey and was a foundation shareholder in the firm, which was founded in 2020 by leading
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