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Clarkson Hill in takeover talks

Clarkson Hill has released a statement saying it has received a takeover approach for the company.

In a statement posted on the London Stock Exchange director Ron Pritchard says: “The board of The Clarkson Hill Group announces that it has received an approach regarding a possible offer for the company.

“There can be no certainty that an acceptable offer will ultimately be made. A further announcement will be made in due course.”

The news comes one week after the national IFA announced a pre-tax profit of £47,853 for the six months to June 30, 2010, a turnaround from the £178,379 pre-tax loss the company made at same time last year.

The firm is still locked in talks with the FSA over its regulatory capital requirements, after it emerged that a £588,000 loan from Pritchard and managing director Mike Robinson was not approved as being enough to boost its capital sufficiently.

The Cambridgeshire-based firm first revealed in July that it needed more capital having run up exceptional costs of £230,787 due to a regulatory review of its systems and controls last year.

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  1. The firm is based in Wisbech in Cambridgeshire

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