Log In

Reset Password
BERMUDA | RSS PODCAST

Gerova merger called off

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