S&W seeks IPO after Rathbone merger talks break down

Was preparing for stockmarket listing before Rathbone approach

Natalie Kenway
clock • 3 min read

Smith & Williamson is to prepare the firm for a potential stockmarket listing, after a statement from Rathbones said merger talks had been "terminated" as parties were unable to agree a transaction that would be in the best interest of shareholders.

After stockmarket closing yesterday, Rathbone released a statement revealing the £2bn merger talks had broken down "following very extensive due diligence and negotiations". It was first reported on 20 August the two firms were in exclusive talks about an all-share merger that would create an financial services firm with £56bn AUM. However, Rathbone's most recent statement said these talks had not been concluded, resulting in a non-underlying charge of approximately £5m in 2017 for expenses associated with the prospective transaction. The biggest wealth management stories of Q2 ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Navigating a new era for investing

Partner Insight: Navigating a new era for investing

Across the developed world, inflation is back and here to stay, says Wellington Management’s John Butler.

Sarka Halas
clock 13 March 2024 • 2 min read
Partner Insight: Should investors go global for more impact?

Partner Insight: Should investors go global for more impact?

Global investing offers scope for broader social impact as well as financial returns.

Sarka Halas
clock 11 March 2024 • 1 min read
Women in Investment Awards winner interview: Omotunde Lawal from Barings

Women in Investment Awards winner interview: Omotunde Lawal from Barings

Supporting the next generation

Katrina Lloyd
clock 07 March 2024 • 1 min read
Trustpilot