2nd Jan 2019 13:54
LONDON (Alliance News) - Shares in Gordon Dadds Group PLC were restored to AIM trading on Wednesday following its acquisition of fellow law firm Ince & Co LLP.
Shares in Gordon Dadds were suspended in September when merger talks with London-headquartered law firm Ince & Co were first announced. This was classed as a reverse takeover under AIM rules.
Gordon Dadds will merge the legal practice of Ince UK with Gordon Dadds LLP, which will trade as Ince Gordon Dadds.
The assets, which came under the control of Gordon Dadds at the end of 2018, generated fees of GBP30.5 million in the year ended April 30, the company said.
Total consideration for the deal was estimated at GBP27.3 million, payable in cash over four years and a grant of options over up to 3 million new Gordon Dadds shares.
The acquisition does not include the international offices of Ince International. It is expected to be earnings enhancing from the start of April, the company said.
Shares in Gordon Dadds were up 4.8% at 190.20 pence on Wednesday in London.
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