Jardine Lloyd Thompson is said to be close to acquiring Heath Lambert...
Jardine Lloyd Thompson (JLT) is said to be close to acquiring Heath Lambert in a deal worth £130m, according to reports this morning.
JLT is understood to have agreed the fee with Heath Lambert's two largest shareholders, Royal Bank of Scotland and Credit Suisse, and the broker's management team.
According to reports, Adrian Colosso, Heath Lambert chief executive, Mike Bruce, company managing director, and non executive director Keith Hammill, will each recieve £5m in cash and shares between them as part of the deal.
Heath Lambert's largest shareholder, Colosso, is expected to take his shareholding from 3% to 5%. Whilst Bruce's share holding will rise 1% to 2.5%, and Hammill's will increase 1% to 2.5%, reports said.
Their combined 11% shareholding will earn the trio £3m in a sale to JLT.
Shares in JLT rose 3.25p to 367.25p in early trading.
