Shadforth offer goes unconditional
Snowball Group and Shadforth have completed the first stage of their planned merger, with more than 90 per cent of holders in Shadforth accepting the acquisition bid.
Because acceptances exceeded 90 per cent, Snowball’s acquisition offer is now unconditional.
Snowball chairman Eric Dodd said the dealer group would quickly move onto integrating the two businesses.
“In expectation of the merger going ahead, we already have well developed strategies and integration plans in place,” Dodd said.
Dodd had invited the Shadforth directors onto the board of Snowball, adding the board would ensure the combined group was “well positioned to pursue growth and to capitalise on the combined strength, scale, market position, and enlarged adviser footprint, in the rapidly changing wealth management sector”.
The two dealer groups first announced their intention to merge at the end of May this year.
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