Tullet Prebon in bolt-on US acquisition
Inter-dealer broker Tullett Prebon is set to acquire Elevation, a privately-owned equities and equity derivatives inter-dealer broker based in New York.
Inter-dealer broker Tullett Prebon is set to acquire Elevation, a privately-owned equities and equity derivatives inter-dealer broker based in New York.
The purchase will set Tullett back $13m, to be settled in cash once the transfer is complete, which is due to take before the end of the first half of 2012.
As well as broker services, Elevation provides exclusive macro based research and agency execution for its clients across multiple platforms.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price of Tullett fell 0.9% to 340.80p by 13:47.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Inflation forecast: where are prices heading next?
Updated inflation forecasts were published alongside Rachel Reeves’s Autumn Budget on 30 October. How quickly will prices rise over the next few years?
By Katie Williams Published
-
Ryanair profits dive as passengers hold out for lower fares – should you invest in airline stocks?
Europe’s largest low-cost airline said on Monday that net profits had fallen by 19% to €1.79 billion for the six months to the end of September
By Chris Newlands Published