Federated Investors reached a definitive agreement to acquire MDT Advisers, a quantitative equity firm with $7.1 billion in mostly high-net-worth assets, for roughly $240 million, said Federated CEO J. Christopher Donahue. Federated will own roughly 90% of firm's outstanding equity when the transaction closes around July "with the right to acquire the remaining 10% by June 30, 2007," according to a news release.
MDT officials deferred all comment to Federated.
Putnam Lovell NBF Securities advised MDT.
