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Bank of Montreal Acquires Guardian Group of Funds

Bank of Montreal of Toronto, announced last week that it has acquired Guardian Group of Funds Ltd. from Guardian Capital Group Limited, also of Toronto. The deal is valued at U.S.$117 million in treasury shares, according to a Bank of Montreal spokesperson.

The acquisition will expand Bank of Montreal's assets under management to nearly U.S.$19 billion, including the addition of U.S.$1.3 billion in assets from Guardian Group of Funds, the spokesperson said. Both figures reflect calculations as of March 31.