CI Financial hits 9-yr high after Mubadala inks $8.7 bln take-private deal
** Shares of Canadian asset and wealth manager CI FinancialCIX.TO jump 30.2% to C$31.26
** Stock trading at its highest since October 2015
** Abu Dhabi-based Mubadala Capital will take CIX private in a C$12.1 bln ($8.66 bln) deal - CI Financial
** Mubadala will pay CIX shareholders C$32/shr, a 33% upside to stock's last close
** Deal, expected to close in Q2 2025, values CI's equity at about C$4.7 bln
** CEO Kurt MacAlpine will continue to lead CIX, which will remain headquartered in Canada
** CIX has been a divisive name among investors, given its largely aggressive debt financed M&A expansion strategy to build its U.S. wealth management platform - Scotiabank
** Brokerage believes the approach aligns quite well for a private equity player, adding that it sees a competing bid as a low probability
** As of last close, CIX shares up 61.6% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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