Wealth managers WH Ireland and Team in all-share merger talks

WH Ireland, the wealthiness absorption group, is successful talks astir an all-share merger with Team, different London-listed relation successful the sector.

Sky News has learnt that the 2 companies are successful precocious discussions astir a woody that could worth WH Ireland astatine much than 4p-per-share - astir 8 times the worth of a rival transaction which was voted down by its shareholders past month.

Sources said the deal, if completed, would make a larger subordinate successful the UK wealthiness absorption market, though the companies are comparative minnows with a combined marketplace capitalisation of conscionable £20m.

Both WH Ireland and Team declined to comment.

The worth that the prospective woody places connected WH Ireland's banal whitethorn punctual questions from its shareholders astir wherefore a transaction worthy a fraction of its worth received a proposal from its committee and advisers.

Last month, Sky News revealed that the £1m merchantability of WH Ireland's wealthiness absorption part to Oberon Investments was connected the brink of illness aft a radical of investors moved to artifact it.

WH Ireland's wealthiness limb has astir £830m of assets nether management, portion Team has full assets nether absorption oregon medication of much than £1bn.

The former's biggest shareholders, according to its website, see TFG Asset Management, which owns 29.9%, the salient City fig Hugh Osmond, who holds conscionable nether 10%, and Melvin Lawson, proprietor of a 9.7% stake.

The committee of WH Ireland is chaired by Simon Moore, who besides chairs LV Financial Services, the beingness security mutual.