The Globe and Mail reports in its Tuesday edition that RBC Dominion Securities analyst Bart Dziarski believes that ECN Capital's acquisition by a group of investors led by private equity firm Warburg Pincus, in an all-cash transaction valuing the common shares at $3.10, accurately reflects the company's asset-light business model and scale. The Globe's David Leeder writes that with shareholder support secured and a closing expected in the first half of 2026, Mr. Dziarski expects shares to trade closely around the deal value until completion. Mr. Dziarski has reaffirmed his "sector perform" recommendation. He gave his share target a 15-cent trim to $3.10. Analysts on average target the shares at $3.12. Mr. Dziarski thinks the buyers were "attracted to ECN's asset-light platform with durable funding partner relationships (e.g. Blackstone, Carlyle, NY Life, JPM Investment Management)" and sees the transaction as an "attractive shareholder outcome supported by strong execution track record." Mr. Dziarski says in a note, "The transaction implies more than 200-per-cent total shareholder return since the spin-out and allows shareholders to crystallize value amid a more uncertain macro and funding backdrop for specialty finance."