WH Eire, the wealth administration group, is in talks about an all-share merger with Workforce, one other London-listed operator within the sector.
Sources stated the deal, if accomplished, would create a bigger participant within the UK wealth administration market, though the businesses are relative minnows with a mixed market capitalisation of simply £20m.
Each WH Eire and Workforce declined to remark.
The worth that the possible deal locations on WH Eire’s inventory could immediate questions from its shareholders about why a transaction value a fraction of its worth obtained a advice from its board and advisers.
WH Eire’s wealth arm has about £830m of belongings below administration, whereas Workforce has whole belongings below administration or administration of greater than £1bn.
The previous’s greatest shareholders, in response to its web site, embody TFG Asset Administration, which owns 29.9%, the distinguished Metropolis determine Hugh Osmond, who holds just below 10%, and Melvin Lawson, proprietor of a 9.7% stake.
The board of WH Eire is chaired by Simon Moore, who additionally chairs LV Monetary Providers, the life insurance coverage mutual.
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