|Bid||0.00 x 7300|
|Ask||0.00 x 6600|
|Day's range||2,738.00 - 2,807.00|
|52-week range||1,724.46 - 2,842.00|
|PE ratio (TTM)||35.42|
|Dividend & yield||0.00 (0.00%)|
|1y target est||2,416.55|
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.
Rathbone Brothers Plc ("the Company") Appointment of Senior Independent Director The Company announces that with immediate effect, Jim Pettigrew has been appointed senior independent director ...