All M&A articles – Page 56
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Cobra set to create hubs in seven regional centres
Broker group in regional drive following Manchester broker buy
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Broker Network rejects takeover bid
Broker Network has rejected an approach from a potential buyer, believed to be Towergate. In a statement to the stock exchange on Tuesday, Broker Network said discussions had been held with a company, but the approach had been rebuffed. It said: “It [Broker Network] has concluded that the terms and ...
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Oval confirms talks of Allianz stake in group
Oval has confirmed that it is in discussions with Allianz about taking a stake in the broker group.Managing director Jeff Herdman said that the company hoped to make an announcement regarding Allianz’s stake – believed to be 10% – in the next few weeks. He would not comment on speculation ...
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Oval acquires two more brokers
Addition of Devon and Sheffield based companies brings total acquisitions to 22
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Buyers stalk Broker Network
Towergate was tipped as the most likely buyer this week, following Broker Network's surprise announcement that it had received a bid approach.Towergate, with £200m remaining in its acquisition war chest, is widely thought to have made the approach. But AXA has also been tipped as a potential suitor, fuelling speculation ...
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Consolidation surge before capital gains rise
A surge in broker consolidation has been predicted as sellers look to avoid increases in capital gains tax announced in the Pre-Budget Report. But there were mixed views on how the proposed changes would affect acquisition prices.Last week the Chancellor, Alistair Darling, said capital gains tax would increase from ...
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Giles: consolidator growth could spell end of MGAs
Giles Insurance chief executive Chris Giles has warned that managing general agents (MGA) face a difficult future as their markets disappear, with the growth of the consolidators. His comments came as he admitted that Giles Insurance would be ending its trading relationship with underwriting agencies Primary General and Fusion. The ...
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Towergate planning swoop on Allen & Allen
Towergate is understood to be in discussions to buy motor specialist broker Allen & Allen. It is believed that the discussions for the acquisition of the Middlesex-based broker are at an early stage. The group, which specialises in non-standard motor insurance, has an annual premium income of more than ...
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CBG eyes regions after London buy
Manchester broker CBG is looking to expand into other UK regions after completing its first acquisition outside the North West.CBG paid £2.71m in cash and shares for Marcus Hearn & Co, the trading subsidiary of the Marcus Hearn Group of Companies, based in Shoreditch, London.Marcus Hearn, which offers specialist insurance ...
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Fortis targets aggregator market after acquisition
Strategy will initially focus on private motor business, before moving to household insurance
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Bollington acquires Manchester broker
Group strengthens North West position with first aquisition since Groupama takeover
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A lateral jump that shook the industry
Towergate’s move on Open International is a sharp change of strategy. Michael Faulkner reports
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Roadsure sold to sister company Premium Choice
Up to 30 staff will be affected by the sale of broker Roadsure to sister company Premium Choice. Northampton-based Roadsure will move to Premium Choice’s Birmingham office following the sale this week, which was part of a restructure by parent company Optimas.Roadsure director Neil Beckingham said there would be ...
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JLT’s £20m offer leads bids for First City buy-out
Three in race to take over independent Lloyd’s broker
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Assurant Solutions acquires Centrepoint
Move part of strategy to develop network-based offering
