Cazenove Cut ; City Comment
Summary
THINGS have gone quiet on the Cazenove front, which suggests the deal that would bring the firm under the umbrella of JP Morgan is getting down to the hard bargaining on price, equity shares, who goes, who stays, and for how long. But when all is said and done, the Cazenove side will be lucky to clear Pounds 500 million down and the possibility of another Pounds 250 million on an earn-out.
They might think their business is worth more but the firm has been in play effectively since it announced, then shelved, its plans to go public and each on-off courtship since has stripped away a bit more of its credibility.See the full content of this document
Extract
Cazenove Cut ; City Comment
It risks serious loss of face if it is ji...
See the full content of this document