Cenkos Securities has reiterated its desire to take over the Close Brothers Group in a £1.4bn or 950p per-share deal.
Along with partner Landsbanki Islands HF, Cenkos made a rejected 950p per-share approach for the group on 8 November, which Close called “wholly inadequate”. But Cenkos says it is determined to pursue the proposal, after "encouraging" meetings with Close shareholders. Cenkos says it is disappointed the Close Brothers board are unwilling to meet to discuss the proposal and “strongly urge” the board to reconsider. Close Brothers is currently valued at 898.5p this afternoon, down 2.23% on the day. Cenkos says its announcement is not a firm intention to make an offer and it is not certain i...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
