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STM £40m acquisition delayed for another month

The £39.8m acquisition of pension services and SIPP provider STM by Guernsey-based investment vehicle Pension SuperFund Capital has been extended for another month after the firms said it was taking longer than expected to receive regulatory approvals.

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Pension SuperFund acquires STM for £40m

Pension services and SIPP provider STM has been acquired by Guernsey-based investment vehicle Pension SuperFund Capital in a £39.8m deal that was extended several times since first being announced in July.

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'Inadvertent rule breach' in STM bid

Pension SuperFund Capital has reported an “inadvertent breach” of one of the rules of City Code on Takeovers and Mergers in its announcement on 8 September about its offer for SIPP provider STM Group.

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Pension Superfund lowers offer for SIPP firm STM

Investment vehicle Pension SuperFund Capital has lowered its offer for SIPP provider STM Group from 70p per share to 67p per share.

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