Investment bank Seymour Pierce is expected to end merger talks with Bermudan re-insurer Gerova Financial (GFC.N) in the next few days and pursue a merger with Ticonderoga Securities, the Mail on Sunday reported, citing no sources. Reuters reported in December that the London-based stockbroker was being bought by New York-listed Gerova in a reverse takeover deal that would see little-known Gerova taking Seymour Pierce's name. [ID:nLDE6B60QA] Under that original deal, Gerova also agreed to buy New York-based institutional broker-dealer Ticonderoga Securities, founded by ex-Collins Stewart (CLST.L) executives Joel Plasco and Shawn McLoughlin. Speculation has grown that the merger between Seymour Pierce and Gerova could be in doubt as shares in the re-insurer have slumped almost 80 percent so far this year.
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