Lighthouse Group shareholders have voted to move forward with Quilter's £42.2m offer to buy the firm, notwithstanding previous suggestions there could be price refinements on the deal or an 11th-hour bid from a competitor.
More than 85% of shareholders voted in favour of the deal, comfortably passing the minimum 75% threshold required for the sale to go ahead. The deal will see life company and advice giant Quilter and its advice arm Intrinsic grow to more than 3,900 financial advisers. For a while, it looked as though there was a chance the acquisition would not go ahead, or that there would be price refinement. After the deal was announced in April, Lighthouse shareholder Cavendish Asset Management suggested other suitors would arrive at the eleventh hour and make a bid for the firm. At the time,...
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