Diamond Hill Investment Group, a boutique investment management firm with a long-term, valuation-disciplined approach across multiple asset classes, and First Eagle Investments, an independent, privately owned, fundamentally driven investment management firm, have announced that they have entered into a definitive agreement under which First Eagle will acquire all outstanding shares of Diamond Hill for $175 per share in an all-cash transaction valuing the company at approximately $473 million. The purchase price represents a 49 percent premium over Diamond Hill’s closing share price of $117.48 on Dec. 10, and a 44 percent premium over the company’s 30-day volume-weighted average price (VWAP).
First Eagle’s investment capabilities span equity, fixed income, alternative credit and multi-asset strategies. The acquisition markedly would increase First Eagle’s footprint in traditional fixed income, which has been an area of significant growth for Diamond Hill in recent yea
