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Shares of Ladenburg Thalmann rallied 20% in a single day following news that the broker agreed to merge with wealth manager the Advisor Group. So reports The Motley Fool.

The Advisor Group will pay $3.50 per share of Ladenburg Thalmann, which was a 20% premium at the time of the announcement and values the company at $1.3 billion.

Read the full article from The Motley Fool.

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