Premier Miton Group has approached River & Mercantile (R&M) about a merger that could create a business with more than £18bn in assets, while AssetCo has confirmed it has made an offer to the firm.
Premier Miton suggested the merger after R&M confirmed it was selling one of its two divisions to shareholders for £230m. Since the London Stock Exchange opened this morning, the firm's share price has risen by 12.9%, while Premier Miton's share price has dipped by 0.7%. The third party involved in a potential deal, AssetCo, has released a statement confirming it has submitted a "non-binding securities exchange proposal" for the firm. It said any deal would be conditional on R&M completing the sale of its solutions business. AssetCo appoints Campbell Fleming as CEO The AssetCo s...
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