Brooks Macdonald approached 7IM controlling shareholder Caledonia Investments about a takeover deal at the end of last year, according to reports.
The £17.3bn asset manager had its offer, which valued 7IM at £300m, rejected by Caledonia. According to Sky News' sources, the firm is stalking 7IM and is expected to express its continued interest over the course of the coming months. 7IM manages just over £20bn in assets and recently bought two firms - TCAM Asset Management and Partners Wealth Management. The firm is also dealing with the fallout of two inherited TCAM funds, now 7IM Absolute Return Portfolio and 7IM Income Portfolio, which were exposed to a collapsed securitised debt vehicle. Brooks Macdonald FUM boosted by ...
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