RSS feedclose brothers
’Snap news
Breaking pre-market news on Thursday,
- Centrica warns of profits; blames warm weather — statement.
- Glencore shares expected to rally after trader flags solid performance of marketing division — statement.
Snap news
Breaking pre-market news on Friday,
- Cosmen-CVC consortium withdraws takeover offer for National Express – statement.
- Stagecoach says it has ended talks with the consortium to buy National Express UK bus and rail operations – statement.
Close Brothers moves in on Kleinwort
Close Brothers, the UK-based investment bank, has emerged as a bidder for Kleinwort Benson, the private bank that has been put up for sale by Germany’s Commerzbank. Close Brothers is understood to be among the potential buyers to reach the second round of the auction process.
Snap news
Breaking pre-market news on Thursday,
- Panmure Gordon announces £23m (34p) share placing with Qinvest, which will own 44% of company – statement.
- Investec cuts dividend, sees earnings fall, but says balance sheet strong – statement.
Daiwa to buy Close Brothers’ arm
Daiwa SMBC, one of Japan’s top three investment banks, is buying the financial advisory business of Close Brothers for €75m in a deal that highlights Japanese financial institutions’ push overseas.
FSA wins key Winterflood case
The UK City watchdog has won a key case in its drive against market malpractice after an independent tribunal backed its belief that market abuse does not have to involve deliberate intent. Winterflood,
Snap news
Breaking pre-market news on Tuesday,
- Cattles says it will need to restate the group’s financial statements for 2006-2007, is in breach of covenants – statement
- HSBC HK selloff caused by “technical factors”;
Close Brothers names new chief
Close Brothers has appointed Preben Prebensen, 52, to be its chief executive, ending a search that started last September when Colin Keogh said he was stepping down. Prebensen will take up the role at the UK merchant bank on April 1,
Close Brothers’ profits plunge
Close Brothers said Monday that full year pre-tax profit had plunged by almost a third as it confirmed that Colin Keogh, chief executive, was to step down after six years. The London-based investment bank said operating profit before tax for the year to July 31 was below market expectations at £127.5m.
Close rules out break-up
Close Brothers ruled out a break-up on Monday after the London-based investment bank reported a plunge in interim pre-tax profits that drove its shares to a three-year low. The group initiated a strategic review in November,
Close but not close enough
Not a huge surprise – but takeover talks for Close Brothers, the investment bank, are over. At least for now.
The prospect of long-awaited consolidation among the UK’s mid-market financiers looked unlikely after Cenkos withdrew from talks last month in a huff,
Cenkos rights issue for Close buy
Cenkos, the UK merchant bank, plans a “significant” rights issue to pay for larger rival Close Brothers, Cenkos said Monday. After weeks of hostility Cenkos confirmed it had entered talks with Close about a possible offer.
Prospects grow for Close sale
Prospects of a sale of Close Brothers, the UK investment bank, increased over the weekend after Cenkos Securities, the stockbroker, joined other suitors in starting due diligence and indicated it could pay more than £1.5bn for the London-listed merchant bank.
Close bid moving towards £1.6bn
Blackstone Group has indicated to Close Brothers that it might pay as much as £11 a share, or £1.6bn, for the UK merchant bank, potentially trumping the indicative 950p a share offer mooted by Cenkos Securities in November,
Close Brothers’ memo to staff
From: Jane Rix
On Behalf Of Colin Keogh
Sent: 08 January 2008 17:12
To: Allsubs
Subject: Close Brothers Group update
Dear Colleagues,
I am writing to you again because I know how potentially unsettling some of the recent inaccurate press coverage has been.
Close Brothers braced for more defections
Close Brothers was braced for further defections from its investment trust team, following the resignations of five members who are to join rival Numis. It is understood that up to seven more staff from Wins Investment Trusts – part of the market-making business Winterflood – are also considering joining Numis,
Close Brothers brings Mittelstand to London
Close Brothers, the UK securities trading company, is setting up a new brokerage service with its German subsidiary that aims to bring small and mid-cap German stocks to London-based institutional investors.
Close Brothers rejects bid as ‘wholly inadequate’
Close Brothers rejected a 950p-a-share offer for the company from a consortium led by Cenkos, headed by Andy Stewart, the co-founder of Collins Stewart. Close Bros said the offer, which at £1.41bn is a 25 per cent premium to where the shares were trading before the approach but a 7 per cent premium to the average value over the past year,
Stewart in £1.1bn cash offer for Close Bros
Close Brothers, the 129-year-old British investment bank that once helped finance the first railway in Alaska, has received an all-cash indicative offer of more than £1.1bn from Andy Stewart, the chief executive of rival Cenkos.
20/20 vision and a special divi to prove it at Close Brothers
It is easy being smart after the fact. But that’s not going to stop everybody trying to spin a decent line that they saw it all coming. Close Brothers, the London-based investment bank, has a decent stab though.
UK’s Close Brothers buys into Mako
Close Brothers, the UK investment bank, has made its first foray into derivatives, buying half of Mako Global Derivatives, a marketmaker for exchange-traded derivatives, for an undisclosed amount. The deal,
The appeal, or horror, of private equity
At first glance, the stat is perplexing. Two-fifths of FTSE 350 chief executives and finance directors would take their firm private given the right opportunity and price, according to research by Close Brothers.
Schwager’s wizardry comes to London
How do you pick a Market Wizard? The broad-brush traits range from the reassuring (focus on risk management) to the somewhat obvious (confidence and flexibility) to the borderline pathological (inclination to work long hours and an obsession with markets).
Close Brothers adds Allegro to its network
Close Brothers, the UK investment bank, has added Allegro Capital Advisors, a Bangalore corporate finance boutique, to its network of partners, to bring more Indian companies to the UK market and advise Indian companies on acquisitions of UK businesses.
Electra puts Capital Safety up for sale
Electra Private Equity is to sell Capital Safety, the world’s leading manufacturer of height safety equipment for construction workers. A person familiar with the group said Electra had appointed Close Brothers to look at a possible sale after receiving enquiries about the business from both financial and trade buyers.
Close Brothers sells Moody to Investcorp
Close Brothers Private Equity has sold Moody International, which provides services and personnel to oil and gas companies, to Investcorp, the Bahrain-listed private equity group, for $311m including debt.