IOOF Holdings Limited (ASX:IFL) has entered into a scheme of arrangement with DKN Financial Group to acquire all outstanding shares for 80 cents a share.
Shareholders in DKN are also expected to receive a 2.5 per cent dividend per share with the second-half results.
IOOF said the transaction would represent a total consideration of $94.1 million and a total equity value of $115.4m for DKN.
For the second half of last year, IOOF Holdings reported a profit of $46.9 million.
