Smaller companies broker Arden Partners (LON: ARDN) is being acquired by one of its clients in an all-share offer. The purchaser is not another broker it is a legal services business.
The Ince Group (LON: INCE) is offering seven shares for every 12 Arden shares in a bid recommended by the board of the broker. Assuming an Ince share price of 53p, this values each Arden share at 31p and the total share capital at £10m. Arden shareholders will own just over one-fifth of the enlarged share capital of the group. Irrevocable acceptances equate to 44.5% of the Arden share capital.
In 2017, Ard...
