Collins Stewart Tullett ends takeover talks

News of the takeover bids came out in August, when Collins Stewart Tullett said it had received several approaches from unnamed parties. Speculation at the time focussed on a US broker, the German exchange Deutsche Borse, or an information provider such as Reuters or Bloomberg. But later Hohlberg Kravis Roberts, Hellman & Friedman and Blackstone were cited in the media as the most likely bidders.

In October, the broker said the talks had made "good progress" in terms of regulatory issues and due diligence, and described the situation as "satisfactory".

But yesterday Collins announced that the potential offer would not satisfy "shareholders' reasonable expectations about the valuation of the business".

Collins Stewart Tullett did not publicly name the company or group of companies behind the approach.

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