Vancouver-based Canaccord Financial Inc. has issued a statement following speculation that it plans to take over a UK investment firm.
The release noted that, while it is not the company’s policy to comment on market rumours or speculation, it confirmed that Canaccord is “considering making an approach to The Evolution Group PLC.”
Canaccord also confirmed that it has had preliminary discussions with Evolution regarding a potential offer for shares of the company.
London-based Evolution provides investment banking services, investment management and equity funding alternatives.
Cannacord announced two weeks ago that it had acquired a 50% equity interest in Australia’s BGF Equities as part of its strategic expansion into Asia Pacific.
At market close yesterday, Canaccord shares were trading down $0.18 to end the day at $10.67.
Jennifer Harrison
Twitter: JHarrisonBIV