Royal buys connor clark for its wealth management

Article Abstract:

Wealth management firm Connor Clark Ltd. has been acquired by Royal Bank of Canada for C$156 million. Toronto-based Connor Clark, which currently manages C$1.4 billion, offers financing planning, tax, trust, advisory and other services to private clients at the high end of the market. Royal Bank will pay C$6.85 a share for the common and Class A non-voting Connor Clark shares and 10 cents for eachin outstanding warrant.

Commercial Banks, Commercial Banking, Depository Credit Intermediation, Money Management Accts & Svcs, Asset management accounts, Connor Clark Ltd.

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EC confronts Airtours with tough deadline

Article Abstract:

Airtours PLC was given by the European Commission (EC) until the night of Sep 7, 1999, to make more concessions in its takeover bid for competitor First Choice Holidays PLC. EC competition regulators are concerned about the effects of the deal, which will reduce the number of major tour operators in the UK from four to three. The EC is expected to make a final ruling on the deal on Oct 5, 1999.

United Kingdom, Travel Agencies, Travel Agents, First Choice Holidays PLC

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