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Subsequent Events
12 Months Ended
Oct. 31, 2012
Subsequent Events Disclosure [Abstract]  
Subsequent Events

26. Subsequent Events

 

The Clifton Group Investment Management Company

On November 12, 2012, Parametric announced the signing of a definitive agreement to acquire the business of The Clifton Group Investment Management Company (“Clifton Group”), a Minneapolis company specializing in providing futures- and options-based overlay services and custom risk management solutions to institutional investors.

 

Clifton Group is currently owned 80 percent by non-employee shareholders and 20 percent by Clifton Group's three principals. The principals will exchange Clifton Group stock for Parametric equity at closing and will continue in their current role pursuant to long-term employment agreements to be entered into at closing. Clifton Group will operate as a division of Parametric under its current management, with no changes in personnel or location expected as a result of the transaction.  Completion of the transaction is expected on or about December 31, 2012 and is subject to customary closing conditions.

 

Special dividend

On December 4, 2012 the Company declared a special dividend of $1.00 per share on its Voting and Non-Voting Common Stock, payable on December 20, 2012.