M&A
confidence high
sentiment positive
materiality 0.85
Lazard to acquire Campbell Lutyens for up to $660M; creates private capital advisory leader
Lazard, Inc.
- Total consideration: $460M initial (mostly stock at $46.50/share), $115M deferred, plus $85M earn-out.
- Initial consideration primarily in LAZ common stock; up to 19.99% of outstanding shares issuable.
- Restricted portion of initial consideration subject to three-year lock-up; earn-out shares unrestricted.
- Termination fee of $50M payable by Lazard if CMA condition fails; closing targeted by March 31, 2027.
- Campbell Lutyens is a global private capital advisor focused on fund placement, secondary advisory and GP capital.