Baker Tilly will pay cash for RSM Tenon

Author: Nicola Brittain
IFAonline | 29 Jul 2013 | 12:54

Categories: Economics / Markets

Topics: Baker Tilly| RSM Tenon

RSM Tenon

Baker Tilly has announced that it will pay cash for RSM Tenon, following an investors' notice last week that it was considering the acquisition.

This second stock market announcement restated the first which said that RSM Tenon's discussions with Baker Tilly ‘may or may not' lead to an offer for the entire issue share capital of the company.

Today's statement said that despite the announcement that any offer would be made in cash, the announcement was ‘not one of a firm intention to make an offer'.

Last week's announcement said that RSM Tenon had been supplying information to Baker Tilly to help it evaluate the potential investment.

It added: "Given the level of debt within the company, any potential transaction would require the support of its sole lender, Lloyds Banking Group.

"As a consequence, the board considers that, if an offer is made, it is likely to be at a level which is significantly below the current market price of the ordinary shares of the company."

In accordance with the Takeovers and Mergers Code, Baker Tilly must announce its intentions towards the takeover by 5pm on 22 August.


More economics / markets news

Related briefings

Recommended reading



  • Comments
  • Print
  • RSS
  • Share
blog comments powered by Disqus

Related articles

Most Read

Audio / Visual

Coffee Lounge

Who picked up the gongs this year?

Protected Product Review Awards 2013

Who picked up the gongs this year?

Advisers and providers gathered at the Grand Connaught Rooms in London on 20 November to celebrate the ingenuity and the graft displayed in the protected product arena throughout the last 12 months. These awards are growing in popularity every year, and our congratulations go to the winners and highly commended.


event logo

The British Mortgage Awards 2014

10 Jul 2014 - 10 Jul 2014

London, UK

event logo

British Mortgage & Protection Senate

11 Sep 2014 - 12 Sep 2014

Surrey, UK

event logo

Managed Solutions Focus 2014

17 Sep 2014 - 18 Sep 2014

London & Manchester, UK


Job of the week


Should a permitted investment list be reinstated for SIPP providers?