secwatch.observer — SEC 8-K summary
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Issuer:     WESTWOOD HOLDINGS GROUP INC (WHG)
CIK:        0001165002
Form:       8-K
Filed at:   2022-05-26T23:59:59+00:00
Accession:  0001165002-22-000079
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Westwood to acquire Salient's asset management business for $35M cash plus up to $25M earn-out
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- Acquisition of Salient's $4.5B AUM increases Westwood's total AUM by 32% to $18.4B.
- Upfront $35M cash, plus earn-out up to $25M based on revenue retention and growth targets.
- Fabian Gomez appointed President, Porter Montgomery as COO, and Steven Paddon as Head of Institutional Sales.
- Transaction expected to close by end of 2022, subject to client consents and customary conditions.
- Westwood expects immediate accretion to earnings and will maintain a debt-free balance sheet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1165002/000116500222000079/0001165002-22-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1165002/000116500222000079/whg-20220525.htm
  HTML page:      https://secwatch.observer/filing/0001165002-22-000079

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer