JPMorgan To Pay $1.7B For Cazenove Stake In UK Outfit

By Melissa Lipman

Law360, New York (November 19, 2009, 3:28 PM ET) -- JPMorgan Chase & Co. has agreed to pay £1 billion ($1.7 billion) to buy Cazenove Group Ltd. out of its half-stake in the companies' joint venture investment banking operations in the United Kingdom, which would give the financial giant complete ownership of the nearly 200-year-old brokerage.

The deal — a stock acquisition that values Cazenove's shares at £5.35 ($8.90) each — will make JPMorgan Cazenove a wholly owned part of the New York-based banking giant, the companies announced Thursday.

The move to acquire the rest of...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles