Rathbones and Smith & Williamson are in merger talks in a deal that would create a £55 billion (US$70.8 billion) wealth manager.
The deal would value the combined company at £2 billion (US$2.6 billion) with Rathbones, which has £36 billion (US$46.3 billion) of assets under management, the dominant partner with a market value of £1.4 billion (US$1.8 billion), according to Sky News.
Smith & Williamson, which runs £19 billion (US$24.5 billion), has been valued at £600 million (US$772.2 million). The transaction will be structured as a Rathbones takeover and will be an all-share deal.
Rathbones confirmed the talks in a statement. Company secretary Ali Johnson said, “Rathbones confirms that it is currently in exclusive discussions with the Smith & Williamson group of companies regarding a possible all share merger of the two groups.”
Full Content: Sky News
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