{"id":6168,"date":"2011-12-16T00:22:06","date_gmt":"2011-12-15T22:22:06","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/update-3-canaccord-snaps-up-uk-broker-collins-stewart\/"},"modified":"2011-12-16T00:22:06","modified_gmt":"2011-12-15T22:22:06","slug":"update-3-canaccord-snaps-up-uk-broker-collins-stewart","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-3-canaccord-snaps-up-uk-broker-collins-stewart\/","title":{"rendered":"UPDATE 3-Canaccord snaps up UK broker Collins Stewart"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Deal values Collins Stewart at $390 mln<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Offer comes at a 90 pct premium to share price<\/p>\n<p><span><\/span><\/p>\n<p>* Cements Canaccord&#8217;s ambition of bigger presence in London<\/p>\n<p><span><\/span><\/p>\n<p>* Collins Stewart shares rise 75 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Canaccord stock hits year low then rebounds, down 6.5 pct<\/p>\n<p> (Adds CEO and analyst comment)<\/p>\n<p><span><\/span><\/p>\n<p>By Sarah White and Cameron French<\/p>\n<p><span><\/span><\/p>\n<p>LONDON\/TORONTO, Dec 15 (Reuters) &#8211; Canaccord Financial<br \/>\n has snapped up British broker and advisory group Collins<br \/>\nStewart Hawkpoint for just over 253 million pounds<br \/>\n($390 million), cementing the Canadian investment dealer&#8217;s<br \/>\nambitions of expanding in London amid a wave of consolidation in<br \/>\nthe troubled sector.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of Collins Stewart shot up 75.3 percent to 88.3 pence<br \/>\non Thursday, within reach of the 96 pence per share offer, while<br \/>\nCanaccord&#8217;s shares fell as much as 14 percent to touch a year<br \/>\nlow as investors fretted about the risks associated with the<br \/>\nmove.<\/p>\n<p><span><\/span><\/p>\n<p>The cash and stock offer represents a more than 90 percent<br \/>\npremium on Collin&#8217;s Stewart&#8217;s Wednesday closing price, but<br \/>\nanalyst Peter Lenardos of RBC Capital Markets called it a &#8220;full<br \/>\nand fair price.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Deal values Collins Stewart at $390 mln * Offer comes at a 90 pct premium to share price * Cements Canaccord&#8217;s ambition of bigger presence in London * Collins Stewart shares rise 75 pct * Canaccord stock hits year low then rebounds, down 6.5 pct (Adds CEO and analyst comment) By Sarah White and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6168","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6168"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6168\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}