View more on these topics

Jelf confirms Marsh takeover talks

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpg

Employee benefits and financial planning firm Jelf Group has confirmed it is in talks with insurance broker Marsh over a potential takeover.

In a statement on the London Stock Exchange this morning, Jelf says: “Discussions, which are ongoing, are at an early stage and there can be no certainty that any offer will ultimately be made for Jelf or as to the terms of any such offer.”

Marsh has until 5pm on 16 September to announce whether it plans make an offer for Jelf.

Jelf is being advised by Fenchurch Advisory Partners in relation to the potential transaction.

The news has seen Jelf Group’s stock price spike since trading opened this morning, with shares climbing from a close of 207p yesterday to almost 250p as of 10am.

A Marsh spokesman declined to comment.

Recommended

Financial planning boom boosts Jelf earnings

A surge in pre-tax earnings in Jelf’s financial planning business has helped grow the firm’s revenue by 11 per cent, its interim results show. Pre-tax earnings grew 167 per cent year-on-year in the six months to April in the advisory business, from £112,000 in 2014 to £299,000 this year. The employee benefits division saw earnings […]

Telephone-Phone-Business-Finance-General-700.jpg

Jelf launches telephone advice service

Jelf Financial Planning is launching a telephone advice service aimed at clients looking to use the Government’s pension freedoms from April. The advice business, which is part of Jelf Group, currently has 30 face-to-face advisers. Its telephone service will initially be staffed by five advisers and supported by online tools. Jelf says it will take […]

Data-Corporate-Finance-Business-Pen-Graph-Growth-700x450.jpg

Jelf posts £4m profit as financial planning assets rise 12%

Financial services firm Jelf has posted a 5 per cent increase in pre-tax profits for 2013 of £4.11m, as assets under advice at its financial planning arm grew by 12 per cent over the same period. In its annual results to 30 September, published today, Jelf reported total revenues of £76.2m, up 4 per cent […]

Business-Handshake-Meeting-Deal-Low-Angular-700x450.jpg

Towergate reveals takeover approach

Towergate Insurance has appointed Evercore and Rothschild as joint advisers after being approached about a possible takeover. The firm floated the possibility of a sale in a short statement accompanying its interim management statement. The identity of the bidders and the potential timescale of any sale process have not been disclosed. Towergate executive chairman Alastair […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment