LONDON (Alliance News) - A fund controlled by Mehmet Dalman, a City financier and chairman of Cardiff City football club, is working on a takeover of Panmure Gordon & Co PLC, according to The Sunday Times.
WMG, Dalman?s fund, has built up a 9% stake and developed a turnaround plan for the 140-year-old stockbroker, the newspaper reported. WMG has made several offers in recent months directly to QInvest, the Qatari investment bank that owns 43% of Panmure?s shares, the Sunday Times said.
The Qataris, however, have repeatedly rejected WMG?s advances, the last of which was in June, the paper said, adding WMG and QInvest declined to comment.
http://www.thetimes.co.uk/edition/business/city-dealmaker-eyes-panmure-gordon-bid-9ttd3f6px
By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite
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