Intrinsic to take over Caerus adviser network

'Contracts have been exchanged'

Carmen Reichman
clock • 1 min read

Old Mutual Wealth has exchanged contracts for a takeover of adviser network Caerus via its own network Intrinsic, the company has announced.

In a note to investors this morning the company said it had made an offer for Caerus, which was accepted unanimously by the board. However, the proposed acquisition, which is expected to complete in Q2 this year, was subject to a number of conditions, including shareholder agreement and regulatory approval. More than 300 advisers are authorised through Caerus and are responsible for more than £4bn of assets under advice.  According to a person close to the matter, Old Mutual offered just more than £30m for the company, which equated to about £6.35 per share. An earlier deal with...

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