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Tavistock Investments PLC - Bracknell-based investment manager - Announces that the acquisition of Morgan Financial Group Holdings Ltd will no longer take place.
In mid-January, Tavistock announced the acquisition of the Cheltenham, England-based independent financial advisory firm for GBP3.7 million in cash.
"The transaction is no longer in Tavistock's strategic interests and therefore will not proceed. We wish the Morgans team well with the future development of their business," said Chief Executive Officer Brian Raven.
Current stock price: 3.72 pence
12-month change: up 96%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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