-- Lazard (LAZ) said Thursday it has agreed to acquire private markets advisory firm Campbell Lutyens.
The transaction features a base purchase price of roughly $575 million alongside up to $85 million in potential performance-based payments, the company said.
The combined company will operate as a new unit named Lazard CL with Holcombe Green and Gordon Bajnai working as co-chief executive officers, Lazard said.
The company also said it anticipates the deal will positively impact 2027 earnings and expects to close it within the year, subject to regulatory clearances.
Shares of the company were down over 4% in Thursday premarket activity.
Price: $45.49, Change: $-1.99, Percent Change: -4.19%