R&Q and Brickell deal collapses
R&Q has detailed plans to raise $108m (£85.8m) as the proposed takeover by Brickell fell through.
The cash takeover was first revealed at the start of April valuing Randall & Quilter Investment Holdings at £482m.
A shareholder vote on the proposals at a special general meeting was delayed from 20 May to 25 May.
However buyer Brickell PC Insurance Holdings wrote to R&Q on 23 May alleging that R&Q was “in breach of certain obligations” and seeking to end the takeover with immediate effect. As part of the deal Brickell had committed to invest $100m.
R&Q revealed the news yesterday and
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