---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-015986"
form_type: "8-K"
ticker: null
cik: "0000909108"
company_name: "DIAMOND HILL INVESTMENT GROUP INC"
filed_at: "2025-12-11T23:59:59+00:00"
generated_at: "2026-05-16T13:36:37.073870+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950103-25-015986
- form_type: 8-K
- cik: 0000909108
- company_name: DIAMOND HILL INVESTMENT GROUP INC
- filed_at: 2025-12-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/909108/000095010325015986/0000950103-25-015986-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/909108/000095010325015986/dp238605_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-015986
- JSON: https://secwatch.observer/filing/0000950103-25-015986.json
- Plain text: https://secwatch.observer/filing/0000950103-25-015986.txt

## Key facts
- Material Agreements
  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
  source text: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/909108/000095010325015986/0000950103-25-015986-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.