Ince Group PLC - London-based legal and professional services - Completes acquisition of London-based corporate adviser and stock broker Arden Partners PLC, after scheme of arrangement gets court approval. The all-share merger, first announced back in October, at the time valued Arden at GBP10 million, though Ince Group shares have halve in value over the past six months. Arden shareholders received 7 Ince shares for every 12 Arden shares they owned.
"Our strategy is to build a world leading diversified business advisory group," says Ince Chief Executive Adrian Biles. "The completion of this deal is a significant milestone on that journey." Donald Brown, who was CEO of Arden, has joined the Ince board as an executive director. Arden shares will be cancelled from AIM on Friday.
Current Ince Group stock price: 22.25 pence
12-month change: down 70%
By Tom Waite; thomaslwaite@alliancenews.com
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