UBS asks High Court to block client poaching
- The TImes of London
UBS will today mount an extraordinary legal challenge to prevent departing executives from poaching valuable clients.
The embattled Swiss bank is seeking a temporary High Court injunction against Vestra Wealth, a new wealth manager, as well as its founder, David Scott, and four senior fund managers….
Philip Morris bids $2bn for Canada’s Rothmans
- The Times of London
Philip Morris, the world’s largest tobacco company, has offered C$2 billion (£99 million) for Rothmans, Canada’s second biggest cigarette maker.
The offer was conditional on Rothmans reaching an agreement with the Canadian government related to a cigarette smuggling investigation. Earlier today, Rothmans admitted to aiding smugglers in court and paid a $100 million fine….
Tullett Prebon in Talks to Combine With GFI Group
- Bloomberg
Tullett Prebon Plc, the second- biggest broker of transactions between banks, is in talks to merge with GFI Group Inc. to expand its derivatives broking business in the U.S.
Talks are at “an early stage and there can be no certainty that they will result in a transaction,” the London-based company said in a PR Newswire statement today. New York-based GFI, the largest interdealer broker of credit derivatives, also said in a separate statement it’s in discussions with Tullett….
Tags: M&A
