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AllianceBernstein L.P.
(AllianceBernstein)
AB and W.P. Stewart & Co., Ltd. (W.P. Stewart)
announced today that the two firms have entered into a
definitive agreement whereby AllianceBernstein, a global investment management
firm with $444 billion in assets under management, will acquire W.P. Stewart,
an equity investment manager that currently manages $2 billion in U.S., Global
and EAFE concentrated growth equity strategies for institutional and retail
clients, primarily in the U.S. and Europe. Upon completion of the acquisition,
W.P. Stewart's investment services will be added to AllianceBernstein's equity
offering. W.P. Stewart's team of seasoned investment managers will remain in
place and continue to manage their investment services as they do today. At
the same time, they will gain access to AllianceBernstein's broad global reach
and research team, and benefit from extensive access to corporate management.
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