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Misys buys DBS in £75m deal

The largest IFA network Misys has reached an agreement to buy rival network DBS Management valued at £75m with the acceptance of DBS directors.

This offer represents Misys paying 150 pence in cash for each DBS share and a premium of about 105 per cent to the closing market price of 73 pence for each share on 18 June.

The deal will create the largest IFA network in the UK and Misys says the combination of its and DBS&#39s businesses will result in benefits for product providers, IFAs and retail customers.

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