Rathbone Brothers completes takeover of Speirs & Jeffrey

31st Aug 2018 07:28

(Sharecast News) - Rathbone Brothers announced on Friday that its acquisition of Speirs & Jeffrey had now completed following receipt of approval from the Financial Conduct Authority.The FTSE 250 firm initially announced the proposed takeover on 14 June.It said the initial consideration of £104m for the acquisition was satisfied through £79m cash and the issue of 1,006,522 new ordinary Rathbones shares to Speirs & Jeffrey shareholders."Such shares are locked up for 3 years from completion and will be subject to ongoing employment conditions for the sellers," Rathbone's board said in its short statement.