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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Mon., May. 2, 9:06 PM

Slide #2. Hennessy Advisors, Inc. The Westport Funds

Acquirer: Hennessy Advisors, Inc. (NASDAQ:HNNA)
Acquiree: The Westport Funds
Details: Hennessy Advisors, Inc. (NASDAQ: HNNA) today announced that it has signed a definitive agreement with Westport Advisers, LLC to purchase the assets related to the management of The Westport Funds, which are the Westport Fund and the Westport Select Cap Fund. The Westport Funds currently have assets of approximately $640 million, which would bring total assets managed by Hennessy Advisors, Inc. to over $7 billion after the acquisition. The transaction is expected to be completed in the third quarter of 2016.

Hennessy Advisors is an investment management firm engaged in managing, servicing and marketing its open-end mutual funds, the Hennessy Funds. Co.'s investment advisory services include managing the composition of fund's portfolio, conducting investment research, monitoring compliance, overseeing service providers, maintaining public relations and marketing programs, preparing and distributing regulatory reports, and overseeing distribution through third party financial intermediaries. Co. provides shareholder services to some of the Hennessy Funds. As of Sept 30 2015, Co. managed 16 mutual funds categorized as Domestic Equity, Balanced and Fixed Income, or Sector and Specialty.

Open the HNNA Page at The Online Investor »

Company Name:  Hennessy Advisors Inc
Stock buyback:  HNNA buyback
Sector:  Asset Management
Number of ETFs Holding HNNA:  1
Total Market Value Held by ETFs:  $231524
Total Market Capitalization:  $148.00M
% of Market Cap. Held by ETFs:  0.16%

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May 2, 2016    9:06 PM Eastern
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