Canaccord Genuity Group, a global, full-service investment banking and financial services company, offered to acquire RF Capital, a Canadian independent financial services firm, for $367m. The offer was rejected by RF's board. "We are resolute in our belief that our Proposal would provide superior value for RF Capital shareholders and that Richardson Wealth Investment Advisors would benefit from the scale, stability, and growth potential that Canaccord Genuity provides. The opportunity to bring together two of Canada's leading independent wealth management businesses presents compelling synergies and economic benefits not only for our own business and shareholders, but also for RF Capital shareholders, Richardson Wealth's Investment Advisors and their clients," Dan Daviau, Canaccord Genuity President and CEO.