Towergate on verge of securing network deal
Towergate has made a bid of £95m for Broker Network that has been accepted by over 50% of the compan...
Towergate has made a bid of £95m for Broker Network that has been accepted by over 50% of the company's shareholders.
The bid price values Broker Network's shares at 605p each, having been floated originally at 71p in May 2004. The plan is to roll the AIM-listed firm into a network division within Towergate.
Grant Ellis, chief executive at Broker Network and owner of 13% of its shares, has agreed to become executive chairman of the division. He will also oversee the Countrywide network, which was
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