BMO to Acquire Australia-Based Capital Markets Business of Euroz Hartleys Group, Strengthening Global Metals & Mining Leadership

Rhea-AI Summary

BMO (NYSE:BMO) agreed to acquire the Australia-based capital markets business of Euroz Hartleys Group, a metals and mining-focused equity, M&A and advisory firm. Euroz Hartleys' private wealth arm will stay independent under a strategic alliance. Closing is expected in Q4 2026, subject to shareholder and regulatory approvals.

About 40 Euroz Hartleys team members are expected to join BMO, expanding its global metals and mining platform across North America, Europe and Australia.

Positive

• Acquisition adds an Australian metals and mining-focused capital markets platform
• Strategic alliance preserves Euroz Hartleys private wealth and research connectivity
• Approximately 40 Euroz Hartleys team members expected to join BMO Capital Markets
• Strengthens BMO’s integrated metals and mining presence across North America, Europe and Australia

Negative

• Transaction closing targeted for Q4 2026, delaying near-term impact
• Completion subject to Euroz Hartleys shareholder and regulatory approvals and customary conditions

News Market Reaction – BMO

+0.35%

+0.35% Session close to close

In the Jun 30 session, BMO gained 0.35%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds 40 Euroz Hartleys team members and deepens BMO’s metals and mining reach in A...

Analysis

This announcement adds 40 Euroz Hartleys team members and deepens BMO’s metals and mining reach in Australia. With prior acquisitions averaging about -0.73% moves, investors may watch integration progress and client wins as key proof points.

Key Figures

Team members joining: 40 employees Australian presence since: 2004 Expected closing: Q4 2026

3 metrics

Team members joining 40 employees Euroz Hartleys staff expected to join BMO Capital Markets at closing

Australian presence since 2004 Year BMO established its office in Melbourne

Expected closing Q4 2026 Anticipated closing of Euroz Hartleys capital markets acquisition, subject to approvals

Previous Acquisition Reports

2 past events · Latest: May 11 (Neutral)

Same Type Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
May 11	Business divestiture deal	Neutral	-0.4%	Sale of transportation and vendor finance businesses with minority stake retained.
Jun 19	Asset manager acquisition	Neutral	-1.1%	Acquisition of Burgundy Asset Management to expand wealth management platform.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Acquisition-related headlines for BMO have historically been followed by modest share price declines on average.

Key Terms

capital markets, m&a, equity capital markets, capital formation

4 terms

capital markets financial

"entered into a definitive agreement to acquire the Australia-based capital markets business"

Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.

m&a financial

"a leading metals and mining-focused equity capital markets, M&A and strategic advisory firm"

M&A, short for mergers and acquisitions, involves one company combining with or purchasing another company to grow, streamline operations, or gain competitive advantages. For investors, M&A activity can signal potential for increased value, new opportunities, or changes in market dynamics, making it an important factor to watch in the business landscape.

View in glossary

equity capital markets financial

"a leading metals and mining-focused equity capital markets, M&A and strategic advisory firm"

Equity capital markets are the channels and activities through which companies sell ownership stakes (shares) to investors, including initial public offerings, follow-on share sales, and block trades. Think of it as a marketplace or storefront where firms raise money by offering pieces of the business; the size, timing and price of those offerings can change a stock’s supply, dilute existing ownership, and influence valuation and future growth prospects, so investors watch it closely.

capital formation financial

"Australia is among the most important centres for metals and mining capital formation worldwide"

Capital formation is the process by which businesses and economies gather money needed to grow and operate, for example through reinvesting profits, selling shares, or taking on loans. Think of it as filling a fuel tank that powers expansion, product development, or new projects. For investors, how effectively and cheaply capital is raised affects a company’s growth prospects, profit potential and the risk or dilution of existing holdings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Combines BMO's market-leading global metals and mining franchise with premier Australian distribution platform, strengthening BMO's position as the leading global metals and mining investment bank

• Enhances BMO's integrated global platform connecting clients to capital, investors and opportunities across North America, Europe and Australia

TORONTO and PERTH, June 29, 2026 /PRNewswire/ - BMO Financial Group (TSX: BMO) (NYSE: BMO) today announced it has entered into a definitive agreement to acquire the Australia-based capital markets business of Euroz Hartleys Group Limited (ASX:EZL), a leading metals and mining-focused equity capital markets, M&A and strategic advisory firm. Euroz Hartleys Group's private wealth business will remain independent and will enter into a strategic alliance agreement with BMO to preserve the interconnected relationship between the capital markets and private wealth businesses and support continued collaboration, research access and distribution opportunities. The transaction is anticipated to close in the fourth quarter of calendar year 2026 and is subject to Euroz Hartleys shareholder approval, applicable regulatory approvals and other customary conditions.

The transaction will combine BMO's market-leading metals and mining franchise with one of Australia's premier equity distribution platforms and will create a truly integrated global capability for clients. Australia is among the most important centres for metals and mining capital formation worldwide, with a market comparable to Canada and growing influence across global markets. This strategic acquisition will enhance BMO's ability to serve clients where capital is forming, underscoring the importance of a scaled local presence.

"This is a defining step forward in strengthening our position as the leading metals and mining investment bank globally," said Carrie Cook, Global Head, Investment & Corporate Banking, BMO Capital Markets. "By combining our global distribution capabilities with deep local expertise in Australia, we are building a more connected platform that will enable clients to access capital and opportunities across markets. As capital formation continues to shift globally, our clients increasingly expect seamless access to investors and opportunities across markets—and this transaction supports our ambition to be ahead of that evolution."

"This combination will bring together two highly complementary businesses to create a stronger and more competitive global platform," said Andrew McKenzie, Executive Chairman of Euroz Hartleys. "BMO provides immediate access to the leading global franchise in metals and mining and significantly expands our ability to connect Australian clients with international capital. We are excited to be part of a team that is setting the standard for the sector globally."

Since 2004, BMO has had a presence in Australia, with an office in Melbourne. At closing, approximately 40 Euroz Hartleys Group team members are expected to join BMO Capital Markets, further strengthening its regional and global capabilities. Together, the combined team will operate as an integrated global platform, enhancing connectivity across North American, European and Australian markets.

In connection with the transaction, BMO Capital Markets acted as BMO's exclusive financial advisor. DLA Piper and Osler, Hoskin & Harcourt LLP acted as legal counsel to BMO. Grant Samuel acted as financial advisor and Steinepreis Paganin acted as legal counsel to Euroz Hartleys Group.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

About Euroz Hartleys Group

Euroz Hartleys is a leading Western Australian financial services firm providing private wealth, institutional broking and corporate finance services. Euroz Hartleys has built a highly respected Capital Markets franchise, with deep expertise across equities research, institutional sales and trading, equity capital markets and mergers and acquisitions advisory. The firm's Private Wealth business provides tailored investment advice and financial planning services to high net worth individuals, families and private clients. Euroz Hartleys is headquartered in Perth, Western Australia and is listed on the Australian Securities Exchange.

Caution Regarding Forward Looking Statements

Certain statements in this press release are forward-looking statements.  All such statements are made pursuant to the "safe harbor" provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. These forward-looking statements include, but are not limited to, statements with respect to the expected closing of the proposed transaction, the financial and operational impact of the proposed transaction, our future arrangements with Euroz Hartleys Group Ltd., our strategies or future actions, and include statements made by our management. Forward-looking statements are typically identified by words such as "expect" and "will" or negative or grammatical variations thereof.

By their nature, forward-looking statements are based on various assumptions and are subject to inherent risks and uncertainties. We caution readers of this press release not to place undue reliance on our forward-looking statements as the assumptions underlying such statements may not turn out to be correct and a number of factors could cause actual future results, conditions, actions or events to differ materially from the expectations, estimates or intentions expressed in the forward-looking statements. Such factors include, but are not limited to: the possibility that the proposed transaction does not close when expected or at all because required regulatory approvals and other conditions to closing are not received or satisfied on a timely basis or at all or are received subject to adverse conditions or requirements; the anticipated benefits from the proposed transaction, including the strategic alliance agreement, are not realized in the time frame anticipated or at all as a result of changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations (including changes to capital requirements) and their enforcement; reputational risks and the reaction of BMO's customers and employees to the transaction; diversion of management time on transaction-related issues; and those other factors discussed in the Risks That May Affect Future Results section, and the sections related to credit and counterparty, market, liquidity and funding, operational non-financial, legal and regulatory compliance, strategic, environmental and social, and reputation risk, in the Enterprise-Wide Risk Management section of BMO's 2025 Annual Report, as updated by BMO's quarterly reports, all of which outline certain key factors and risks that may affect our future results and our ability to anticipate and effectively manage risks arising from all of the foregoing factors. We caution that the foregoing list is not exhaustive of all possible factors. These factors should be considered in addition to other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.

BMO does not undertake to update any forward-looking statement, whether written or oral, that may be made, from time to time, by the organization or on its behalf, except as required by law.

View original content:https://www.prnewswire.com/news-releases/bmo-to-acquire-australia-based-capital-markets-business-of-euroz-hartleys-group-strengthening-global-metals--mining-leadership-302813818.html

SOURCE BMO Financial Group - Communications

FAQ

What acquisition did BMO (NYSE:BMO) announce on June 29, 2026?

BMO announced a definitive agreement to acquire the Australia-based capital markets business of Euroz Hartleys Group. According to BMO, the deal adds a metals and mining-focused equity capital markets, M&A and strategic advisory platform in Australia to its global franchise.

How does the Euroz Hartleys acquisition strengthen BMO’s global metals and mining business (BMO)?

The acquisition combines BMO’s global metals and mining franchise with Euroz Hartleys’ Australian equity distribution platform. According to BMO, this creates a more integrated global capability, connecting clients to capital and investors across North American, European and Australian metals and mining markets.

What happens to Euroz Hartleys Group’s private wealth business after BMO’s acquisition?

Euroz Hartleys’ private wealth business will remain independent and not be acquired by BMO. According to BMO, it will instead enter a strategic alliance, preserving close collaboration, research access and distribution opportunities between the capital markets and private wealth operations.

When is BMO’s acquisition of Euroz Hartleys’ capital markets business expected to close?

BMO expects the transaction to close in the fourth quarter of calendar year 2026. According to BMO, completion is subject to Euroz Hartleys shareholder approval, applicable regulatory approvals and other customary closing conditions before the deal becomes effective.

How many Euroz Hartleys employees will join BMO Capital Markets through this acquisition?

Approximately 40 Euroz Hartleys team members are expected to join BMO Capital Markets at closing. According to BMO, these employees will enhance regional expertise as part of an integrated global platform linking metals and mining clients across North America, Europe and Australia.

Why is Australia important to BMO’s metals and mining strategy with the Euroz Hartleys deal?

Australia is described as one of the most important centres for global metals and mining capital formation. According to BMO, acquiring Euroz Hartleys’ capital markets business strengthens its scaled local presence where capital is forming, comparable in importance to the Canadian market.