Tavistock to sell two business arms to fund ‘potential future acquisitions’ and buy back shares
Some 30% of shareholders have already voted in favour of the sale to Saltus
Some 30% of shareholders have already voted in favour of the sale to Saltus
Revenue rose 19% to £20.6m
Firm admits it is currently engaged in discussions with several M&A targets
A year after rebuffing an unsolicited £15.2m takeover bid
It acquired 21% of parent company LEBC Holdings at the start of the year
Almost 18 months after the advice firm’s founder and CEO died
Turnaround in advisory business performance after completion of reorganisation project
As buyer prepares to roll out centralised investment proposition to IFAs
‘The deal could be the start of another wave consolidation in the DFM space’
‘The board does not consider that a paper-only offer made using illiquid shares … is credible or warrants further consideration’
Would-be acquirer believes shareholders ‘deserve the opportunity to decide on the merits of any offer’
Several victims already approached the company with claims after losing £4.5m