Canadian asset manager Gluskin Sheff + Associates Inc recently sought offers for the company, but it said on Monday it has decided to hold off on a sale for now, triggering a sharp slide in its shares.In a statement responding to a Globe and Mail report that the company was entertaining offers, Gluskin said it had explored the possibility of a sale at the request of founding shareholders Ira Gluskin and Gerald Sheff.However, it said the search for bids had concluded."The founders, the board and management have concluded that the current platform remains an excellent way to serve clients and enhance shareholder value at this time," the company said in a statement.
Gluskin Sheff + Associates Inc. (Gluskin Sheff) is a wealth management company. Shares of GS fell by 5.12% or $-0.97/share to $17.98. In the past year, the shares have traded as low as $13.17 and as high as $18.96. On average, 45698 shares of GS.TO exchange hands on a given day and today's volume is recorded at 22563.
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