07:25 AM EDT, 08/28/2025 (MT Newswires) -- Guardian Capital Group ( GRCGF ) said Thursday that it is going private after accepting Desjardins Global Asset Management's (DGAM) offer to acquire the company in a $1.7 billion deal.

Guardian shares will be purchased for $68 each in cash, which represents a 66% and 48% premium to the last closing price of the class A shares and common shares of Guardian, respectively, before the announcement.

The combined business, which will be led by Guardian Chief Executive George Mavroudis, and Nicolas Richard, president and chief operating officer of DGAM, will comprise $280 billion of client assets post-closing, a statement said.

"The transaction, with its significant cash premium, is an exceptional outcome for Guardian shareholders many of whom have been patient long-term investors," said Mavroudis "This transaction marks a pivotal opportunity to align with a strong strategic partner-one with exceptional financial resources and a distinguished history in financial services."

The acquisition, which is not subject to any financing condition, is expected to close in the first half of next year.

Guardian shares closed down $0.30, to $45.90, on the Toronto Stock Exchange.