JPMorgan Chase is this week expected to take full ownership of Cazenove, the 190-year-old UK stockbroker, in a ￡940m ($1.56bn) deal that will trigger bumper pay-outs for some of the City of London's top financiers.
The US investment bank is in talks to buy the 50 per cent of Cazenove it does not already own by exercising an option agreed when the original tie-up between the two companies was struck five years ago.
The proposed buy-out will value each Cazenove share at 500p-525p, according to people close to the talks, more than double the most recent quoted price of 245p in April this year.
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