Acquisition Resources

SMIF, the Secondary Market Infrastructure Fund, is to be put up for auction this week and could sell for over £700m. The Information Memorandum has been sent out and binding offers are expected to be... [more]

Premium Credit, a UK subsidiary of Bank of America, is up for sale. According to rumours, buyout groups as well as corporate suitors are likely to take an interest in the auction; Phoenix Equity Partn... [more]

Nationwide is to acquire the Bournemouth-based Portman Building Society in a £1.2bn merger, creating a combined group with 827 branches.The merger will be the largest building society merger ever to t... [more]

Teesland has acquired Partnership Incorporations, the operator of collective property investment schemes, for £2m. Teesland will pay £1.75m in cash, £335,00 in shares and a further deferred considerat... [more]

Sumus has acquired Financial Services Advice & Support, the Dunfermline-based independent financial advice network, for an initial £859k in cash and shares. A further consideration of up to £1.141m wi... [more]

Erinaceous has acquired Keelan Westall, the Hampshire-based property insurance broker, for £19.7m. Erinaceous will acquire the company through its Hannover Park Commercial insurance subsidiary. Keelan... [more]

RAB Capital is to acquire Northwest Investment Management, the London-based hedge fund manager, for up to £20.55m. The deal comprises a cash payment of £5.2m, the issue of 13.2m RAB shares to the vend... [more]

Irish Nationwide, the building society moving towards a sale, has confirmed it is almost ready to hire corporate advisers, the Irish Examiner reported. The article quoted a spokesman for the business ... [more]

Nash Insurance Consultants could be headed for sale after Ernst & Young's appointment to look into the group's strategic options. The unattributed piece said the sale could come as soon as the beginni... [more]

Detica is to acquire M.A. International (m.a. partners), the management consultancy with 130 staff and offices in London and New York, for up to £32m. Deltica will make an initial payment of £20.5m in... [more]

Pearson is to acquire Mergermarket, the provider of financial information to investment banks with offices in London, New York and Hong Kong, for £101m. Founded in 2000, Mergermarket publishes market ... [more]

Investors in Prudential, the listed insurance giant, are pushing for the disposal of the UK assets according to reports. According to a person familiar with the matter, several major shareholders are ... [more]

Computer Software Group has acquired Videss, the legal software developer with offices in Leeds and Swindon, for £7m. The consideration will be satisfied by £6.57m in cash and the remainder in shares.... [more]

Metal Bulletin, the financial publisher, is to be acquired by Euromoney Institutional Investor for £221m. Euromoney's offer of 400 pence per share beats its previous offer in July of £187m (340 pence ... [more]

City Index is to acquire IFX, the financial spread betting company, for £58m. The 180 pence per share offer represents a premium of 15 per cent on IFX's share price on 25th April, when City's potentia... [more]

UK-listed life insurer and wealth manager Prudential could consider the sale of its closed with-profit portfolio, management has said. Closed funds - books of business that are closed to new entrants ... [more]

Scott Tod, the Powys-based cash machines manufacturer, is to be acquired by a fund part-owned by Rutland Trust for £7.4m at 21p per share. Scott Tod operates over 2,000 cash machines but has struggled... [more]

One Advice Group, the Sale-based consumer debt company with 212 staff, is planning to raise up to £27m in a share placing, and has also announced the £3m acquisition of Sale-based Abacus Financial Con... [more]

Giles Insurance Brokers, the Glasgow-based insurance company with 17 branches and 300 staff, has undergone a £45m management buy-out backed by private equity firm Gresham. Giles has made 23 acquisitio... [more]

Commerzbank, the German-listed bank, has hired JPMorgan Cazenove to advise on its listing of UK-based asset management division Jupiter. Commerzbank said that it is considering all possible options wh... [more]