Intrinsic to take over Caerus adviser network

'Contracts have been exchanged'

Carmen Reichman
clock • 1 min read

Old Mutual Wealth has exchanged contracts for a takeover of adviser network Caerus via its own network Intrinsic, the company has announced.

In a note to investors this morning the company said it had made an offer for Caerus, which was accepted unanimously by the board. However, the proposed acquisition, which is expected to complete in Q2 this year, was subject to a number of conditions, including shareholder agreement and regulatory approval. More than 300 advisers are authorised through Caerus and are responsible for more than £4bn of assets under advice.  According to a person close to the matter, Old Mutual offered just more than £30m for the company, which equated to about £6.35 per share. An earlier deal with...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

FSCS receives information to progress with Tenet claims

FSCS receives information to progress with Tenet claims

Expects to open online portal in early 2025

Isabel Baxter
clock 19 December 2024 • 2 min read
Titan Wealth secures IWP deal

Titan Wealth secures IWP deal

Brings Titan Wealth’s AUM to approximately £35bn

Isabel Baxter
clock 18 December 2024 • 2 min read
Surrey advice firm declared failed by FSCS over pensions advice

Surrey advice firm declared failed by FSCS over pensions advice

One upheld claim led to Bourne House’s default

Isabel Baxter
clock 17 December 2024 • 1 min read