Gerova merger called off
Created: Feb 26, 2011 11:00 PM (Updated: Feb 27, 2011 07:19 PM)
UK stockbroker Seymour Pierce on Friday called off its planned merger with Bermuda-based Gerova Financial, the Financial Times reported.The announcement followed a a dramatic plunge in the US-listed reinsurer’s share price and growing concern about the value of some assets on its books.Ticonderoga Securities, a New York-based broker-dealer which was also set to merge with Gerova, said it too had terminated discussions with Gerova, Reuters said on Friday.See Monday's Royal Gazette for the full story