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Thursday, April 11, 2013

CIBC to purchase wealth management firm from Invesco for $210 mln, (NYSE: CM), (TSE: CM.TO), (NYSE: IVZ)

Canadian Imperial Bank of Commerce said it will purchase Atlantic Trust Private Wealth Management from money manager Invesco Ltd for $210 million to boost its presence in the United States. The all-cash deal will be accretive to CIBC's adjusted earnings per share in fiscal 2014, it said.

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. Shares of CM fell by 0.28% or $-0.22/share to $77.55. In the past year, the shares have traded as low as $66.32 and as high as $84.38. On average, 157410 shares of CM exchange hands on a given day and today's volume is recorded at 211131.

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. Shares of CM fell by 0.62% or $-0.49/share to $78.35. In the past year, the shares have traded as low as $69.13 and as high as $84.99. On average, 1066270 shares of CM.TO exchange hands on a given day and today's volume is recorded at 1748359.

Invesco Ltd. (Invesco) is an investment manager, dedicated to helping investors worldwide achieve their financial objectives. Shares of IVZ traded higher by 1.0% or $0.3/share to $30.18. In the past year, the shares have traded as low as $20.49 and as high as $29.94. On average, 3982290 shares of IVZ exchange hands on a given day and today's volume is recorded at 4592337.



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