A takeover deal for James Hay Partnership has moved a step closer after the company invited two interested parties to carry out due diligence on the SIPP provider.
The two parties - one an unnamed business, the other a consortium led by a major shareholder of James Hay parent company IFG Group - are carrying out 'confirmatory due diligence' on the company. This is better known as the stage when firms move away from considering why they should buy a company, to looking for reasons why they should not. Details of the development were revealed at IFG Group's annual general meeting. IFG Group received a proposed conditional offer from a third party to buy the company on 21 April. The board rejected this offer but another, more favourable offer wa...
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