Rathbones Brothers has confirmed the wealth manager is in discussions to acquire 112-year old Glaswegian investment management firm Speirs & Jeffrey, following press reports over the weekend.
In a statement this morning, Rathbones said it "regularly assesses various acquisition opportunities in line with its stated strategy" and confirmed talks with Speirs & Jeffrey are taking place. However, it added no binding offer has been made and "there can be no certainty any binding offer will be made nor that agreement will be reached with the Board and shareholders of Speirs & Jeffrey". A further announcement will be made if and when appropriate, the group added. The Telegraph reported over the weekend that Rathbone Brothers and private equity firm Permira, which is the majority ...
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