RSM Tenon has announced it is in discussions with Baker Tilly for a possible merger. In a statement, RSM Tenon said: ‘Given the level of debt within the company, any potential transaction would require the support of its sole lender, Lloyds Banking Group PLC.
RSM Tenon has announced it is in discussions with Baker Tilly for a possible merger. In a statement, RSM Tenon said: ‘Given the level of debt within the company, any potential transaction would require the support of its sole lender, Lloyds Banking Group PLC. As a consequence, the board considers that, if an offer is made, it is likely to be at a level which is significantly below the current market price of the ordinary shares of the company.’ RSM Tenon’s shares fell 35% on the news, and have since dropped further to 1.70p (at the time of going to press), down more than 70% on the price 12 months ago.
KPMG has announced the following promotions to partner, effective from 1 October 2013: Chris Downing and James Prince, both in KPMG’s indirect tax team; Nick Pheasey and Dan Crowther, both in the private client advisory team; and Tim Sarson, a corporate tax specialist.
RSM Tenon has announced it is in discussions with Baker Tilly for a possible merger. In a statement, RSM Tenon said: ‘Given the level of debt within the company, any potential transaction would require the support of its sole lender, Lloyds Banking Group PLC.
RSM Tenon has announced it is in discussions with Baker Tilly for a possible merger. In a statement, RSM Tenon said: ‘Given the level of debt within the company, any potential transaction would require the support of its sole lender, Lloyds Banking Group PLC. As a consequence, the board considers that, if an offer is made, it is likely to be at a level which is significantly below the current market price of the ordinary shares of the company.’ RSM Tenon’s shares fell 35% on the news, and have since dropped further to 1.70p (at the time of going to press), down more than 70% on the price 12 months ago.
KPMG has announced the following promotions to partner, effective from 1 October 2013: Chris Downing and James Prince, both in KPMG’s indirect tax team; Nick Pheasey and Dan Crowther, both in the private client advisory team; and Tim Sarson, a corporate tax specialist.
