Management team completed the acquisition of Pzena Investment Management, an investment management company, for $795m. Holders of PZN Class A common stock received $9.6 per share in cash representing a premium of 49%. “We are excited to begin this new chapter for our firm after 15 years as a public company. I would like to thank the Special Committee for its work in reaching this agreement. We believe the transaction is in the best interest of Pzena’s Class A stockholders, and will enhance our ability to achieve investment excellence on behalf of our clients," Richard Pzena, Pzena CEO. On October 10, 2022 Pzena Investment Management announced that it has received all regulatory approvals required under the merger agreement to complete the proposed transaction.