PE firm Warburg Pincus steps in to secure £44bn Tilney Smith & Williamson merger

The £44bn merger between Tilney and Smith & Williamson is one step closer to completion under a revised transaction structure, which will see private equity firm Warburg Pincus enter the fray to co-invest in the business alongside existing investor Permira. It follows intervention earlier this year by the Financial Conduct Authority which, in addition to disruption caused by the coronavirus pandemic, held up the merger as the regulator identified "a number of issues" with the previous term...