Diamond Hill to be acquired by First Eagle for $175 per share in cash

DIAMOND HILL INVESTMENT GROUP INC

Merger consideration of $175.00 per share in cash; total equity not disclosed but based on ~9M shares outstanding.
Closing conditions include majority shareholder vote, HSR clearance, and client consents for 78% of revenue run-rate.
Go-shop period through January 14, 2026; termination fee of $18M ($9M if during cut-off through Jan 19).
Board unanimously approved; CEO Heather Brilliant and President Jo Ann Quinif receive additional one-year salary severance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DIAMOND HILL INVESTMENT GROUP INC entered into Merger Agreement with First Eagle Investment Management, LLC (effective 2025-12-10).

Action: entry
Agreement: merger
Counterparty: First Eagle Investment Management, LLC
Effective: 2025-12-10

Exact text from the filing

On December 10, 2025, Diamond Hill Investment Group, Inc., an Ohio corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with First Eagle Investment Management, LLC, a Delaware limited liability company (“ Purchaser ”), and Soar Christopher Holdings, Inc., an Ohio corporation and a wholly owned subsidiary of Purchaser (“ Merger Sub ”).

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Source: SEC EDGAR

accession 0000950103-25-015986

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