Investec has reached an agreement with Evolution to purchase the Williams de Broe owner in a deal worth £233m.
The deal puts a 100.24p value on each Evolution share, a premium of around 45% to the company's average closing mid-market price for the three months to 2 August. Investec had faced competition for the purchase from Canaccord Genuity, but the latter withdrew from discussions with Evolution, which is comprised of Williams de Broe and broking arm Evolution Securities, earlier this week. Last month Williams de Broe announced separate plans to acquire BNP Paribas Private Investment Management and its £1.8bn of asset under management. Evolution chief executive Alex Snow said Williams de...
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