Rathbones, Smith & Williamson Confirm Merger Talks

Robbie Lawther

22 August 2017

have confirmed they are in talks regarding a possible all-share merger of the two groups.

Discussions have taken place for some time and the boards of both Rathbones and Smith & Williamson are confident that a deal can be agreed, the firms said in a statement.

A statement from Smith & Williamson said: “Whilst these discussions are ongoing, there can be no certainty these will lead to a transaction. If agreed, any such transaction will be subject to the approval of Smith & Williamson and Rathbones shareholders.”

Rathbones said that “the person responsible for arranging this announcement on behalf of Rathbones is Ali Johnson, company secretary”.

The firms both added, "a further announcement will be made as and when appropriate". The potential financial terms of the deal were not disclosed.

Rathbone Brothers’ share price on the London Stock Exchange at 11:25 UK time on 21 August was £28.03 ($36.1). Smith & Williamson is the eighth largest accountancy company in the UK