Fleming denies Commerzbank bid

Monday 21 December 1998 00:02 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

ROBERT FLEMING, one of the UK's last remaining independent investment banks, yesterday moved to squash rumours that it had rejected a pounds 3bn offer from Commerzbank because of opposition to a takeover from its founding family.

Weekend reports suggested that Commerzbank tabled a pounds 22-a-share bid for Robert Fleming Group, nearly three times its current market value, in September. However, the reports said the bid was blocked by the Fleming family, which holds a 30 per cent stake.

The bank has also been linked in recent weeks with ABN Amro, JP Morgan and Paribas. A spokesman for Robert Fleming said: "We have had no contact at all with Commerzbank. There has been no bid and no talks. We are not up for sale."

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

Fleming denies Commerzbank bid

Join our commenting forum

Thank you for registering