RTTNews | Mar 31, 2021 10:01AM EDT

10:00 Wednesday, March 31, 2021 (RTTNews.com) - Shares of Ares Management Corp. (ARES) reached a 52-week high of $56.58 Wednesday morning, after the company announced that its subsidiary has entered into a definitive agreement with a subsidiary of BrightSphere Investment Group Inc. (BSIG) and Landmark Investment Holdings LP to acquire 100% of Landmark Partners LLC.

The transaction is valued at $1.08 billion, including about $787 million in cash and about $293 million in Ares Operating Group Units, in each case subject to certain adjustments.

ARES is currently trading at $55.87, up $2.74 or 5.16% with trading volume of over 238K versus an average volume of 682K shares.

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