Lighthouse shareholder expects 11th-hour bids after Quilter's £42m offer
Is the deal cheap?
Cavendish Asset Management expects other suitors to arrive as it waits to see if Quilter's offer of £42m for the firm is topped, reports sister publication Professional Adviser
The asset manager argued Quilter's bid for the 400 adviser-strong firm, which was announced earlier today, was low "for a business with blue-chip clients and good growth potential". It went on to suggest the AIM-listed firm would be ripe for another offer from the likes of Hargreaves Lansdown, Rathbones, Smith & Williamson, or others of that ilk. The deal Quilter has agreed with Lighthouse, which has the backing of the latter's executive and top three shareholders, would see Quilter and its advice...
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