Davy deal may prompt others

Davy Stockbrokers hopes to be in a position to complete a €340 million management buyout (MBO) from Bank of Ireland before the end of the year.

Davy Stockbrokers hopes to be in a position to complete a €340 million management buyout (MBO) from Bank of Ireland before the end of the year.

The bank stated last week that it had received a conditional approach from Davy but there was no guarantee that a transaction would be completed.

But few people in stockbroking circles consider it anything but a done deal.

Once completed, Davy will become an independent entity, like ...