BoI leading race to buy Davy Stockbrokers
Bank may require assurance there will be no more fines or sanctions against stockbroker as a result of past breaches of regulations
Cardinal Capital, the multibillion euro investment firm founded by Nigel McDermott and Nick Corcoran, is out of the running to bid for Davy, as the deadline for first-round offers passed on Friday.
It is not clear yet just how many firms have submitted bids, but Bank of Ireland is regarded as the front-runner in the race to buy the stockbroking firm.
The bank is understood to have formally submitted an indicative offer to acquire Davy...
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