Business Services Industry
JP Morgan is likely to be merger favourite for Cazenove.
Knight Ridder/Tribune Business News, September, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 4--Cazenove will update shareholders on Tuesday about the status of merger talks as insiders suggest a deal could be just over a week away.
At least two investment banks have declared an interest in the venerable British institution, which serves nearly half of the nation's biggest companies.
America's Lehman Brothers is lining up an outright purchase for UKpound 500m to UKpound 600m. Lehman would pay an extra UKpound 300m should Cazenove meet a series of performance targets.
But observers believe Cazenove favours a competing bid from fellow American bank JP Morgan Chase. It proposes injecting Cazenove's investment banking and equity arms into a joint venture that...
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