Deutsche Bank is taking over City broker Numis in a deal worth more than £400m, it was announced today.
Commenting on the Transaction, Luke Savage, Chairman of Numis said: “The Numis Board is pleased to announce its unanimous recommendation of this cash offer for Numis, which not only represents an attractive proposition for Numis shareholders, but also provides a significant opportunity for clients, employees and wider stakeholders through this highly complementary combination.
“Numis has built one of the UK’s leading investment banking and equities franchises through an unwavering client centric culture, the quality of its people, excellence in execution and continued revenue diversification both internationally and into new business lines such as Growth Capital Solutions.
Savage added that the Numis Board is “particularly pleased” that Numis’ autonomy and independence are seen by Deutsche Bank as key contributors to its culture and the quality of its platform.
He added that Deutsche Bank is focused on ensuring this is retained, while also allowing Numis to benefit from access to the significant resources of Deutsche Bank.
“Together with the strengths of Deutsche Bank, we are confident the business will be even better positioned for the future, continuing to accelerate the delivery of exceptional outcomes for all stakeholders of our business.”