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Old Mutual swoop on stockbroker

South African life office Old Mutual is in £540m takeover talks with finance group Gerrard.


Shares in Gerrard, who own stockbrokers Greig Middleton, jumped by10 per cent when the news was announced at the end of last week.


Old Mutual says the move is consistent with its acquisition strategy reported last July prior to its London Stock Exchange listing.

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