Tesco/Booker deal approved but shareholder push back likely
Tesco has been given the green light to proceed with its takeover of wholesaler and convenience store owner Booker, but whether it has the backing of major shareholders remains unclear.
M&A
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Wisdom Tree poised to be world’s largest independent ETP provider
Wisdom Tree’s pending acquisition of ETF Securities’ European exchange traded commodity, currency and short-and-leveraged business is set to create the world’s largest independent ETP provider.
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Hargreave Hale acquisition boosts Canaccord’s assets 76%
Canaccord Genuity Wealth Management’s acquisitions has resulted in a 75.8% rise in assets under management during the second quarter of the 2018 fiscal year compared with the previous year.
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Old Mutual Wealth takes over Yorkshire advice firm
Old Mutual Wealth Private Client Advisers (OMWPC) has acquired Bradford-based adviser, Coleman Clough.
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Thesis takes over DFM as ‘expansive attitude’ takes hold
Thesis Asset Management has kicked off its growth plans with the acquisition of discretionary investment firm, Cambridge Fund Managers.
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Nordic pensions firm buys Skagen
Skagen Funds has been acquired by Nordic long-term savings and pensions firm the Storebrand Group, a move which it says will broaden its product offering.
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Aussie firms enter £550m OMGI bidding war
Two Australian investment firms, Challenger and Macquarie, are among the lead bidders for a £25bn piece of Richard Buxton’s Old Mutual Global Investors, Sky News has reported.
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European Wealth snaps up $1.7bn broker
Guernsey-based European Wealth, an integrated wealth management group, is to acquire a US broker network with $1.7bn (£1.29bn) assets under management and re-brand itself.
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Wealth manager acquires second advice firm in a year
Wealth manager and legal adviser Progeny Group has acquired Chestergate Financial Planning in a continued push of its ‘acquire to hire’ strategy.
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Mattioli hungry for more M&A as revenue hits £50m
Mattioli Woods’ total revenue broke through the £50m mark in 2017, as the specialist wealth manager confirmed that M&A remains a “core part of its growth strategy.”
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Unilever drives Train’s FGT to all-time high
Nick Train’s Finsbury Growth & Income Trust (FGT) has made a massive comeback in 2017, which the manager says is largely down to the failed merger between consumer goods giants Kraft Heinz and Unilever.
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Rathbones and S&W merger talks collapse
Merger discussions between Rathbones and Smith and Williamson have collapsed following a decision by the latter to attempt to list on the stock market.
