IFG Group, the parent company of SIPP provider James Hay Partnership, has been approached with an acquisition offer.
The group confirmed this morning it has received an approach which could lead to an offer to acquire all of its share capital. It warned shareholders the approach is "preliminary in nature and subject to a number of conditions" and could not assure them if any formal offer or transaction would follow. IFG Group bought James Hay in 2009 and merged the SIPP provider with the IPS Partnership to create the James Hay Partnership in 2010. James Hay Partnership handles 40,000 clients, £12bn in funds and works with 8,000 IFAs.
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