Evolution rules out bid for Panmure

By Sudip Kar-Gupta

Cahal Milmo

Cahal Milmo is the chief reporter of The Independent and has been with the paper since 2000. He was born in London and previously worked at the Press Association news agency. He has reported on assignment at home and abroad, including Rwanda, Sudan and Burkina Faso, the phone hacking scandal and the London Olympics. In his spare time he is a keen runner and cyclist, and keeps an allotment.

More articles from this journalist

Wednesday 20 October 2010

Print
A A A
Related articles
Suggested Topics

Evolution has decided against bidding for its rival broker Panmure Gordon in the face of opposition from both Panmure and one of its own big shareholders.

Evolution said in September it was considering bidding for Panmure and received a "put up or shut up" deadline of 28 October from the Takeover Panel to decide whether to make an actual bid. Evolution said yesterday it had abandoned its interest in Panmure after a rebuff from the company's directors. Panmure said the offer had not been in the interests of the company or its shareholders.

Panmure shares fell 8 per cent to 31p, valuing Panmure at £40m. Evolution rose 5.4 per cent to 88.5p, giving it a market value of £210m.

Comments

Independent Comment
blog comments powered by Disqus
News in pictures
World news in pictures
       
SPONSORED FEATURES

Get your summer started with British Military Fitness

BMF is the UK’s biggest and best loved outdoor fitness classes

Visit York Nook Get reading
Prizes & offers Business videos

Visit York

Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world

Military Fitness Nook Get reading
Prizes & offers Business videos

Making reading fun for kids

Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.

Military Fitness Visit York Get reading
Prizes & offers Business videos

Introducing the 'Get Reading' campaign

Get the latest on The Evening Standard's campaign to get London's children reading.

Military Fitness Visit York Nook
Prizes & offers Business videos

Enter the latest Independent competitions

Win anything from gadgets to five-star holidays on our competitions and offers page.

Military Fitness Visit York Nook
Get reading Business videos

Business videos from commercial thought leaders

Watch the best in the business world give their insights into the world of business.

Military Fitness Visit York Nook
Get reading Prizes & offers

Day In a Page

National archives: Edward VIII’s phone calls - and how MI5 bugged them

Edward VIII’s phone calls - and how MI5 bugged them

Newly unearthed papers reveal a shocking extra dimension to the constitutional crisis over monarch’s abdication
Sent down at the Old Bailey: A tour of the world's most famous court

Sent down at the Old Bailey

A tour of the world's most famous court
Hollywood's random acts of red-carpet kindness

Hollywood's random acts of red-carpet kindness

The Hangover actor Zach Galifianakis’s date for his movie premieres isn’t arm candy  – it’s his 87-year-old friend who he saved from homelessness
British football scores an own goal

British football scores an own goal

Many managers barely survive a year in post. Martin Baker talks to experts who make a case for clubs using forensic business skills to find the best staff
James Lawton: Sergio Garcia cracks as major fault line opens up again

James Lawton

Sergio Garcia cracks as major fault line opens up again
Dylan Hartley: Northampton have spent the season proving all our critics wrong

Dylan Hartley talks tough

Northampton have spent the season proving all our critics wrong
Watch out Watford: Here comes the secretive Bilderberg Group

Watch out Watford: Here comes the secretive Bilderberg Group

A meeting of global power brokers in a Hertfordshire hotel is exciting conspiracy theorists, but what are they really about?
'The ultimate all-in-one home entertainment system': Microsoft finally unveils its Xbox ONE console

'The ultimate all-in-one home entertainment system'

Microsoft finally unveils its Xbox ONE console
Plenty of Fish dating site founder pulls 'Intimate Encounters' option to ward off sleazy men

Plenty of sleaze

Dating website pulls intimate 'hook-up' section to curb harassment
Inferno author Dan Brown 'honoured' to be invited to join the Freemasons

The Freemasons’ Code

Dan Brown reveals the message that told him door to the lodge is open
Not secure any more: G4S boss heads for exit at last

Not secure any more: G4S boss heads for exit at last

Nick Buckles survived the Olympics débâcle and a £5bn bid fiasco but a profit warning finally triggered his downfall
How to say ‘I’m a sellout’: Tumblr’s David Karp’s message of reassurance to his staff sounded very familiar

How to say ‘I’m a sellout’

Tumblr’s David Karp’s message of reassurance to his staff sounded very familiar
Why clubs are keen to take a stand

Why clubs are keen to take a stand

There's a real desire around the grounds for safe standing. But will the authorities listen?
In the end the fans decided Tony Pulis had made a pig's ear of the job at Stoke City

In the end the fans decided Tony Pulis had made a pig's ear of the job at Stoke City

Disillusion with a siege mentality and negative playing style made change inevitable
James Lawton: The James Hunt I knew is the subject of a new F1 movie

James Lawton: The James Hunt I knew is the subject of a new F1 movie

British driver was fascinating man whose epic duel with Niki Lauda in 1976 was typical of an era of glamour and glory – but also the ever-present threat of death