Administration April 5, 2003
Bank of Ireland Picks up US Money Manager
May 16, 2002 (PLANSPONSOR.com) - Bank of Ireland
Group has worked out a deal to acquire a majority interest in
the US-based Iridian Asset Management in an effort to get
into America's domestic equities market.
Reported by Fred Schneyer
According to a Reuters news story, the agreement calls for Bank of Ireland to obtain 61% of Iridian with the option to buy the rest of the company.
Bank of Ireland said the acquisition of the Connecticut-based Iridian was “very significant from a tactical and strategic point of view.”
Bank of Ireland agreed to pay $177 million immediately another $24 million at a future date.