Tom Ellis: Reports of Embark buyout shows platform valuations greatly exaggerated

Rumour has it Embark Group is set to be bought by banking giant Lloyds for £400m. Mark Kleinman, the city editor at SkyNews who first reported on the deal, is very rarely mistaken with these big buyout stories. The takeover may fall through in the coming weeks and the reported valuation may be 20% or so off either side of £400m (my own guess, if you were to ask, reader, would be something around £320m), but Kleinman is reliable enough that I'm very confident these conversations between Embark and Lloyds are going on. And, it's fair to say, if an acquisition of Embark is made anywhere ...