A MAJOR shareholder has sold almost its entire stake in
Wealth and investment management firm Rathbones has reduced its stake in the
The move comes after shares in
On 29 April, the firm's board recommended a cash acquisition by American private equity giant
The bidding war between Concord, which is backed by
In a statement, Hipgnosis chair
"Since we started our strategic review, we have been clearly focused on looking at all the options to deliver shareholder value.
"We are delighted that, following competitive interests in acquiring Hipgnosis, our investors now have a chance to immediately realise their holding at an increased premium."
Rathbones completed a £839m deal to buy
Shares in Rathbones closed up 2.46 per cent.
(c) 2024 City A.M., source