Panmure’s shares rose by 68 percent on Friday following news of the takeover deal, which has been recommended by its board of directors, a move equal to the bid premium over the stock’s closing price on Thursday.ĭiamond had in the years before his exit built up Barclays’ investment bank into one of the world’s leading players, with a more aggressive Wall Street culture creating tensions within the more traditional British bank. REUTERS/Luke MacGregorĭiamond, who left Barclays in 2012 during the Libor interest rate-rigging scandal, is making the move through his private equity firm Atlas Merchant Capital, alongside QInvest which together have reached a deal which would value Panmure at around 15.5 million pounds ($19 million). FILE PHOTO: Barclays bank former Chief Executive Bob Diamond arrives at Portcullis House to attend a Treasury select committee hearing in Westminster, London July 4, 2012.
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