Nomura Holdings, Inc. entered into a definitive agreement to acquire 41% stake in American Century Investment Management Inc. from Canadian Imperial Bank of Commerce (TSX:CM) for $1 billion.

Nomura Holdings, Inc. (TSE:8604) entered into a definitive agreement to acquire 41% stake in American Century Investment Management Inc. from Canadian Imperial Bank of Commerce (TSX:CM) for $1 billion on December 21, 2015. Nomura Holdings will also have a 10.1% percent voting interest and will name two representatives to American century's 11-person Board of Directors. The transaction is subject to approval by regulatory authorities and is expected to close in the first half of 2016.

As on January 19, 2016, the Federal Trade Commission granted early termination of the waiting period under the HSR antitrust act. Perella Weinberg Partners, LP acted as financial advisor and John Healy of Clifford Chance acted as legal advisor for American Century Investment Management. Sidley Austin LLP acted as legal advisor to Nomura.

Mayer Brown LLP acted as legal advisor to Century Investment.