CIX should acquire AGF - Deal would be accretive for CIX Attention Investment Bankers: AGF has under-performed over long term, Look at 20 year chart. It may take AGF years to regain those levels, and they may never be regained.
Consolidation offers immediate opportunity to realize the gap between market price and real value, without the business and execution risk associated with AGF going it alone.
AGF controlling shareholders are not getting younger. If they feel there is still growth ahead/ want to defer their gains, they can opt for shares in a cash or shares deal.
AGF's opportunity is CIX"s opportunity.