BoI blocks buyout attempt for Davy Stockbrokers

Bank of Ireland has rejected efforts by executives at Davy Stockbrokers to buy the country’s largest stockbroker from the bank, The Sunday Business Post has learned.

6th May, 2006

Bank of Ireland has rejected efforts by executives at Davy Stockbrokers to buy the country’s largest stockbroker from the bank, The Sunday Business Post has learned.

The proposal was mooted at the beginning of the year by executives during annual negotiations on incentive and performance schemes between the bank and the stockbroker.

The deal could have valued Davy at between €300 million and €400 million.

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