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Rathbones and Smith & Williamson call off merger talks

Smith & Williamson is preparing for a potential listing after wealth managers fail to reach an agreement

Rathbones and Smith & Williamson call off merger talks

A potential merger between two UK wealth boutiques has been abandoned, leaving one to press ahead with plans for an initial public offering instead.

Listed firm Rathbones announced on August 21 that it had entered exclusive merger talks with rival Smith & Williamson. Media reports earlier this week said a counter offer from a third wealth manager, Tilney, had been tabled. Neither Tilney nor Smith & Williamson commented on the reports.

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