Lazard, Inc. (LAZ) Form 8-K — Nov 2, 2026
Lazard, Inc. completed its acquisition of 100% of Campbell Lutyens on November 1, 2026, and launched Lazard CL, positioned as the global leader in private capital advisory. The consideration comprised 9,651,777 Lazard shares valued at a $46.50 reference price, approximately $93.2 million in cash, $115 million in deferred consideration, and up to $85 million in earn-outs tied to revenue growth through 2030. Lazard enters a registration rights agreement requiring a resale shelf for the consideration shares, with a 19.99% issuance cap on shares issuable under the purchase agreement and lock-ups of up to three years on portions of the stock consideration.
Key figures
- Deal Value Usd
- up to ~$477 million total (initial consideration of 9,651,777 shares at $46.50 reference plus ~$93.2 million cash, $115 million deferred, up to $85 million earn-out)
- Gross Proceeds
- 0
- Offering Price
- 46.5
- Shares Offered
- 9651777
- Advised volume
- more than $1 trillion across ~1,300 mandates over four decades
- Earn out max usd
- 85000000
- Lazard cl offices
- 19
- Issuance cap percent
- 19.99
- Lazard cl professionals
- more than 300 advisory professionals
- Block trade threshold usd
- 80000000
- Deferred consideration usd
- 115000000
- Expected combined revenue usd
- approximately $500 million (Lazard CL, 2027)
- Cash portion initial consideration usd
- 93200000
AI analysis
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