Aberforth pulls support for Evo bid

EDINBURGH fund manager Aberforth has thrown a potential spanner in Investec’s proposed £230 million takeover of Evolution Securities after it reneged on its pledge of support for the deal.

By The Newsroom

Published 19th Oct 2011, 01:13 BST

Aberforth said it would no longer comply with a “non-binding letter of intent” after a fall in Evolution’s share price made the acquisition less appealing for shareholders. Aberforth declined to comment.

Edinburgh