Broker consolidation in the spotlight
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In a statement to the London Stock Exchange before markets opened last Friday, CST said the board had received "a number of approaches which may or may not lead to an offer for the company". The company declined to name the bidders.
The news drove the price of CST shares up 23.8% to a high of 634.13p from 512.25p at Thursday's close. The company is valued at £1.3 billion.
At the end of last year, CST became the second largest inter-dealer broker (IDB) after Icap, following the acquisition of
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