TEAM withdraws takeover bid after Tavistock rallies opposition

Share capital of 51% poised to fight

James Baxter-Derrington
clock • 1 min read
TEAM has dropped its takeover bid for the AIM-listed Tavistock
Image:

TEAM has dropped its takeover bid for the AIM-listed Tavistock

TEAM has withdrawn its takeover bid for fellow AIM-listed firm Tavistock Investments after a shareholder and board alliance representing more than 50% of voting rights rallied around the firm.

In an announcement dated 20 April 2021, the board of TEAM stated it had "not been able to fully engage with the board of Tavistock" and was no longer proceeding with its possible offer. Minority of...

To continue reading this article...

Join Investment week

  • 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 Wealth Management

Kingswood acquires South Yorkshire IFA in £1.5m deal (Coinsborough Castle pictured)

Kingswood acquires South Yorkshire IFA in £1.5m deal

UK assets hit £6.3bn

Jenna Brown
clock 26 January 2022 • 1 min read
David Montgomery: "With the launch of a direct, mobile-based investment platform, complementing our growing independent, proprietary and hybrid adviser businesses, our customers will be able to access the channel, advice and investment proposition that most suits their financial situation and needs."

M&G partners with Moneyfarm in D2C launch

Multi-asset model portfolios

Jenna Brown
clock 26 January 2022 • 2 min read
Paul Feeney, CEO of Quilter, said he was pleased with the improvements from its discretionary wealth management business

Quilter results: Quilter Cheviot improves while Quilter Investors struggles

AuMA of £111.8bn

clock 26 January 2022 • 2 min read
Trustpilot