The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Nucleus, Curtis Banks Group
The boards of directors of Nucleus Clyde Acquisition, a wholly-owned subsidiary of Nucleus Financial Platforms, have reached agreement on the terms of a recommended cash acquisition of Curtis Banks Group.

Under the terms of the acquisition, Curtis Banks shareholders will receive 350 pence in cash for each Curtis Banks share, a 32.1 per cent premium to the closing price before the offer period starts, representing a total equity value for Curtis Banks of approximately ÂŁ242 million ($289 million) on a fully diluted basis.

The transaction will bring together the Nucleus Group and the Curtis Banks Group to create a leading retirement-focused advisor platform with approximately ÂŁ80 billion of assets under administration, the firm said in a statement.

The Nucleus board believes that the acquisition represents an attractive opportunity for the Nucleus Group to advance its stated strategy of creating a leading UK advisor platform, enabling financial advisors to help make retirement more rewarding for their customers.

The Curtis Banks Group directors, who have been so advised by Fenchurch and Peel Hunt as to the financial terms of the Acquisition, consider the terms of the acquisition to be fair and reasonable.