Deutsche Bank to buy British stockbroker Numis for £410m
Deutsche Bank said on Friday it had agreed to buy Numis Corp, a London-based institutional stockbroker and corporate adviser, for about 410 million pounds ($511.2 million) as the German company deepens links with the UK corporate client segment.
The 350 pence-per-share, all-cash offer represents a premium of 72 per cent to Numis stock’s Thursday close.
Numis recommended the offer, which comprises 339 pence in cash, an interim dividend of 6 pence per Numis share for the six months ended March 2023 and an additional interim dividend of 5 pence per share.
“The transaction will allow Deutsche Bank to accelerate its Global Hausbank strategy by unlocking a much deeper engagement with the corporate client segment in the UK,” Deutsche Bank said in a statement.
As part of its Global Hausbank strategy, Deutsche Bank as the leading bank in Germany with strong European roots, aims to become a “global local bank” – the first point of contact in all financial matters.
Deutsche Bank said it will combine its existing UK and Ireland corporate finance business with Numis and intends to co-brand with Numis for the relevant UK activities.
Reuters