Mattioli Woods and Kingswood to merge
Combined firm will serve over 25,000 clients
M&A
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Morningstar: M&A is not the magic bullet asset managers think it is
Consolidation often burdens firms with more integration challenges than it does scale and fee benefits
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Nomura acquires Macquarie’s US and European business for $1.8bn
The deal will boost Nomura’s assets by 30.5% to $770bn as the Japanese firm expands its global reach
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Fidelity Japan opens to bids for potential merger
It received proposals from several interested parties following AVI Japan Opportunities bid earlier this month
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EQ Investors considers ‘strategic partnership’ with larger firm
Philanthropist John Spiers said he believes that passing his shares to a foundation may no longer be the right path for the sustainable investor’s future
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Amundi completes combination with Victory Capital
It takes a 26.1% stake in the firm as they agree to distribute each other’s funds in the US and Europe
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Drax rivals Foresight bid for HEIT
Drax Group’s bid, which is being recommended by the HEIT board, comes at a 5% premium to the Foresight offer
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Plus500 expands into Indian market with Mehta Equities acquisition
The £20m deal ‘marks a significant milestone in its global expansion strategy’ as it looks beyond the US futures market
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Harmony Energy Income Trust receives offer from Foresight
HEIT shareholders will receive 84p per share, should the deal complete
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Care REIT receives takeover offer from US-listed CareTrust
If approved by shareholders, CareTrust will pay 108p per share for the £332m REIT
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Brooks Macdonald International sale completes
Sale to Canaccord Genuity allows Brooks to focus on growing its core UK business ‘organically and through targeted M&A’
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Foresight acquires WHEB Asset Management
Deal will add almost £800m to the group’s AUM