8th Sep 2014 06:46
LONDON (Alliance News) - Old Mutual PLC has had a GBP600.0 million takeover bid rebuffed by wealth manager Quilter Cheviot, Sky News reported late Friday.
Sky News said it "understands" that the wealth manager was the subject of a recent Old Mutual bid, even though the wealth manager is considering a listing.
The report said that Bridgepoint, the private equity firm which controls Quilter Cheviot, is "understood to have rejected the proposal on the grounds that it undervalued the company".
http://news.sky.com/story/1330971/old-mutual-bids-600m-for-wealth-manager
By Samuel Agini; [email protected]; @samuelagini
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