India's Religare to acquire UK stockbroker

Religare Enterprises, an Indian finance company started by the owners of Ranbaxy, has offered to pay $99 million for London's oldest stockbroking firm Hichens Harrison.

India-based Religare Enterprises has made an offer to acquire UK stockbroking firm Hichens, Harrison Co for $99 million.

Religare has confirmed to the stock exchange that it is in discussions with Hichens Harrison but has not disclosed the price at which an offer will be made. However, in a filing with the Alternative Investment Market in London where Hichens is listed, the firm confirmed that discussions with Religare are at a proposed offer price of ú2.85 $5.70 per share. Hichens...

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