Rathbone confirms takeover talks with Speirs & Jeffrey

Wealth manager Rathbone Brothers confirmed market rumours that it was in takeover talks with Scottish stockbroker Speirs & Jeffrey Limited.

Rathbone said no binding offer had been made and there can be “no certainty that any binding offer will be made nor that agreement will be reached with the Board and shareholders of Speirs & Jeffrey”.

The Daily Telegraph on Saturday reported Rathbone and private equity business Permira were interested in an estimated £200m sale for the 112-year-old business, citing unnamed sources.