40% of Tavistock shareholders reject Jersey fund M&A bid
Board does not see any ‘commercial logic to justify a combination of the two businesses’
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Board does not see any ‘commercial logic to justify a combination of the two businesses’
It believes that the offer is ‘significantly below the value of the company’s assets’
Days after six of them sent letters of intent to support the offer
The wealth firm previously rejected an offer which it said ‘undervalued’ the business
Approach letter was ‘unsolicited’ and ‘non-binding’ and proposal ‘significantly undervalued’ the firm
Would-be acquirer believes shareholders ‘deserve the opportunity to decide on the merits of any offer’
To offer the insurer’s retirement account as a core pension solution to clients
As CEO says the firm wants to ‘get back into the business of acquiring’ advisory companies
Rogue adviser stole £4.5m to spend on prostitutes, gambling and luxury holidays
Several victims already approached the company with claims after losing £4.5m
If advisers haven’t reduced exposure to risk and volatility then the ‘horse has bolted’
It is ‘interested in opportunities in the wealth and asset management sectors’ across Europe