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Quilter deal for Lighthouse moves forward as timetable set in train

Quilter’s deal to buy national advice firm Lighthouse is moving forward with a key vote on the offer lined up for next month.

Stock market documents this morning reveal that Lighthouse shareholders are being written to today with the full details of the offer.

At least 75 per cent of Lighthouse shareholders need to be present and vote through the deal, the documents show.

A general meeting has been scheduled for the morning of 10 May.

The current timetable says a court hearing is expected no later than 14 days after the deal has satisfied Competition and Markets Authority and FCA conditions, with dealings in Lighthouse shares to be suspended the day after.

Cancellation of admission to trading of Lighthouse shares should occur two days after, with Quilter given 14 days after that to settle the amount it owes for the acquisition.

Quilter, the parent company of advice businesses Intrinsic and Quilter Private Client Advisers, announced the deal to acquire Lighthouse earlier this month for £46.2m, adding another 400 advisers to its ranks.

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