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Berkeley Morgan Group sold to Personal Group in 12.3m cash deal

Berkeley Morgan Group has been acquired by its competitor, AIM listed Personal Group in a 12.3 million cash deal.

The offer, of 105p per share represents a premium of approximately 30% over BMGs closing share price of 81p.

As a result of the deal, a multi million pound windfall will be shared by BMG staff and consultants.

BMG sells a variety of products to financial intermediaries. Its subsidiaries include Berkeley Morgan Ltd, Berkeley Morgan Healthcare, RE Gee, Universal Provident Limited, Limited and BM Agency Services.

BMG chairman Jon Pardoe says: We are delighted to be joining forces with Personal Group which is one of the countrys leading providers of employee benefit insurance and consultancy. “

Personal Group chairman Christopher Johnston says: The acquisition is an ideal fit and will take us into new areas of the insurance services market.


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