BIAM to buy US Iridian

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IRELAND/US - Bank of Ireland Asset Management (BIAM) is set to enter the US value market with the acquisition of Connecticut-based Iridian Asset Management.

Initially, BIAM will acquire a 61% stake in the firm for US$177m, plus a deferred payment of up to US$21m based on Iridian’s performance over the two years following the deal. BIAM can acquire...

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