UK stockbroker Evolution Group (EVG.L) was finalising a deal on Thursday night that could see it taken over by Anglo-South African financial group Investec (INLJ.J), the Financial Times said, citing people familiar with the talks. Discussions had continued on Thursday evening and a deal could be announced as early as Friday, barring a last-minute problem, the newspaper said. On Thursday, Canaccord Genuity (CF.TO) said it did not intend to make a firm offer for the entire share capital of Evolution. Investec and Evolution could not be reached for comment. While a bid for the entire company is expected, Investec had earlier wanted to break up Williams de Broë, Evolution's stockbroking and wealth management arms, if its bid was successful, according to Financial Times.
Shares of CF traded higher by 1.02% or $1.86/share to $185.10. In the past year, the shares have traded as low as $92.41 and as high as $192.70. On average, 2638240 shares of CF exchange hands on a given day and today's volume is recorded at 2082147.
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