JPMorgan lands Cazenove in 1 bln pound buyout

Discussion in 'Growing and Managing a Business' started by manu.kumaar26, Nov 19, 2009.

  1. manu.kumaar26

    manu.kumaar26
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    JPMorgan Chase & Co. is beefing up in Europe by buying the half of Cazenove it does not already own in a deal valuing the 190-year old UK stockbroker at 2 billion pounds ($3.36 billion).

    J.P. Morgan Cazenove will become a wholly owned part of J.P. Morgan and its UK investment banking operations will continue to operate as J.P. Morgan Cazenove, the U.S. investment bank said on Thursday.

    The deal, which will land windfalls for dozens of top London dealmakers, sees David Mayhew remaining chairman of J.P. Morgan Cazenove, while Chief Executive Naguib Kheraj "will oversee the integration", the company said.:)
     
  2. GekiDan

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