THB pulls out of PWS acquisition deal
THB Group has announced that it has terminated discussions with the board of PWS Holdings for the acquisition of the Lloyd’s broking business of PWS International and overseas interests of the PWS group.
Vic Thompson, THB’s group chief executive, commented:
“We are very disappointed to withdraw at this advanced stage in the negotiations, as we felt that PWS would have made an excellent strategic fit with THB. We have expended significant effort to secure this acquisition, but, in the end, the legal complexities involved proved incapable of resolution.”
Despite this development, THB said that it remained committed to its strategy of growth through acquisition as evidenced by its acquisition last
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