Marlborough offers £87m for Exchange FS

Marlborough Stirling has offered some £87m for online financial services portal Exchange FS, subject to shareholder approval. Dave Edwards, director of group marketing at Marlborough Stirling, said the deal is expected to go ahead after a three-week shareholder voting period. Edwards believes the businesses are a complementary match and would not only expand Marlborough Stirling's coverage into life and pensions but will also save the group around £3m per year before tax through achieving efficiencies. Present users of Exchange FS's intermediary portal will also benefit from the extra...