Canaccord Genuity Deal May Hinge on Value of U.K. Wealth Unit
- Division is worth C$6 to C$8 per share, TD Securities says
- Canadian investment bank is exploring strategic options
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The board of Canaccord Genuity Group Inc. may prefer a deal involving its U.K. wealth management unit to a sale of the entire company, analysts say.
Canaccord, which is Canada’s largest non-bank brokerage, is exploring strategic options including a sale of all or part of its business, according to people familiar with the matter, Bloomberg reported Friday. The move comes after activist investor Eric Rosenfeld and former Canadian Imperial Bank of Commerce executive Gillian Denham joined its board of directors.