Tullett Prebon in takeover talks

Shares in Tullett Prebon have jumped 17% after the UK interdealer broker confirmed that it was in talks with a potential acquirer.

  0 Be the first to comment

Tullett Prebon in takeover talks

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The group has been linked with takeover approaches from Bank of China, Macquarie and GFI - with whom it failed to consummate a merger in 2008.

In a note to investors, James Hamilton of Numis Securities said a more likely candidate for a bid would be an exchange.

"We believe the most likely acquirer to be an exchange which could share IT costs and where Tullett would provide a complementary product set. Exchanges command a substantial premium valuation and consequently even with a significant bid premium and modest cost synergies such a deal would be expected to be enhancing."

Tullett Prebon shares moved up 16.7% on the news to 362p, valuing the business at £779m

Sponsored [Webinar] 2025 Fraud Trends: Synthetic Identity, AI and Incoming Mandates

Comments: (0)

[Impact Study] 2024 Fraud Trends in Banking, Insurance, and BeyondFinextra Promoted[Impact Study] 2024 Fraud Trends in Banking, Insurance, and Beyond