|Bid||2,585.00 x 7300|
|Ask||2,588.00 x 6600|
|Day's range||2,564.00 - 2,593.00|
|52-week range||1,745.00 - 2,842.00|
|PE ratio (TTM)||30.81|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y target est||N/A|
Rathbone Brothers, the wealth manager that this month ended its pursuit of rival Smith & Williamson, said its share price fall on Friday had coincided with anonymous allegations made in an online discussion ...
Wealth manager Smith & Williamson (S&W) plans to pursue a potential stock listing after its merger talks with rival Rathbone Brothers (LSE: RAT.L - news) collapsed on Thursday. S&W said in a statement it was preparing for a potential stock listing when it was approached by Rathbones. Now (Frankfurt: 11N.F - news) that talks with Rathbones had ended, a float was back on the table, a spokeswoman for S&W told Reuters.
Wealth management firm Tilney has made an unsuccessful attempt to scupper Rathbone Brothers (LSE: RAT.L - news) ' proposed merger with rival Smith & Williamson by mounting its own counter-bid, two sources close to the matter told Reuters. The pursuit of S&W, which is owned by its employees and Canadian investment firm AGF, comes against the backdrop of a consolidation wave as the sector contends with higher regulatory costs and pricing pressure from cost-conscious investors amid low returns and competition from passive funds. Tilney approached S&W with its competing offer this month but no discussions were held, the sources said, declining to comment on the content of the offer.
Wealth manager Tilney is trying to gatecrash a £2bn merger between two rivals by tabling a takeover bid for Smith & Williamson (S&W), further underlining the accelerating race to consolidate the sector. Sky News has learnt that Tilney, which has assets of about £23bn under management, lodged an all-cash offer for S&W following confirmation of the latter's talks to combine with Rathbone Brothers (LSE: RAT.L - news) . City sources said on Tuesday that S&W's management team, led by David Cobb and Kevin Stopps, had expressed a desire to pursue a deal with Rathbones rather than the competing offer from Tilney.
Rathbone Brothers (LSE: RAT.L - news) has confirmed that it is in talks over a £2bn merger with Smith & Williamson, in a bold move that would accelerate the consolidation of the wealth management sector. The talks, first reported by Sky News , suggest that Rathbones could be close to agreeing the formal terms of a deal to combine with S&W in an all-share merger. Rathbones currently has a market value of about £1.4bn.
British wealth manager Rathbone Brothers said on Saturday (Shenzhen: 002291.SZ - news) it was in exclusive talks with UK-based financial services provider Smith & Williamson over a possible all share merger. "Whilst these discussions have been underway for some time and the boards of both Rathbones and Smith & Williamson are confident that the combination would bring meaningful benefits for the stakeholders of both businesses, discussions are ongoing and there can be no certainty any transaction will be agreed," Rathbone said in a statement. Earlier Sky News reported the 2 billion pound ($2.6 billion) merger would be structured as a takeover by Rathbone, attributing a valuation of close to 600 million pounds to Smith and Williamson.
Rathbone Brothers (LSE: RAT.L - news) is in advanced talks about a £2bn merger with Smith & Williamson in a bold move that would accelerate the consolidation of the wealth management sector. If completed, it would be among the City's most significant transactions so far this year, coming at a time of shifting regulation for wealth managers and bringing together two companies employing roughly 3000 people in total. Combining the two businesses would give Rathbones access to S&W's network of specialist tax and financial advisers at a time when clients are seeking increasingly sophisticated services from wealth management firms.
British wealth manager Rathbone Brothers reported a 4.7 percent rise in first-quarter funds under management on Thursday, boosted by investment gains. Rathbone, in the process of expanding its distribution and private client activities, joins rival asset and wealth managers which have been generally supported by rising equity markets in the first quarter, helping to attract new money from clients. Funds at the end of March stood at 35.8 billion pounds ($46.4 billion), Rathbone said in a statement, buoyed by 427 million pounds in net inflows and 1.2 billion pounds of market gains.
British wealth manager Rathbone Brothers reported higher than expected underlying pretax profit for 2016 on Thursday, helped by stock market gains following Britain's vote to leave the European Union. Rathbones, which can trace its roots to a timber merchants in Liverpool in the 18th century, is over half way through a five-year plan to develop its investment, research and IT capabilities. While associated costs weighed on its pretax profit the company said the strategic overhaul was on track.
British wealth manager Rathbone Brothers said funds under management rose 17.1 percent in 2016 to 34.2 billion pounds ($42.55 billion), boosted by gains in the British stock market in the second half of the year.
More UK companies are expected to adjust capital or cut dividends to fill growing holes in final salary pension schemes this year. The discovery of huge pension deficits at Tata Steel (BSE: TATASTEEL.BO - news) and collapsed retailer BHS in 2016 caused scandals and drew attention to the widening gap between the assets held by such schemes and the money they owe to pensioners. British government bonds, or gilts, have been the main assets of defined benefit or final salary pension schemes.
** Ashmore Group -7.6% and Aberdeen Asset Management -c.6% as US bond yields rise on views Trump's spending plans will push up inflation, possibly triggering more aggressive rate hikes by the Federal Reserve ...