In the latest in a round of possible consolidations The Guardian in the UK reported unnamed sources as saying ICAP and Howe Robinson were “looking at options” and a merger deal could be announced as early as this week.
The report said Howe Robinson chairman Peter Kerr-Dineen would not comment directly on a merger with ICAP but that they were looking at options.
“We could reform ourselves, sell ourselves, merge or take over a weaker competitor. This is the right thing to do when, as now, we are at the beginning of a new market cycle,” he was quoted as saying.
In July Braemar Shipping Services completed a merger with ACM Shipbroking, which created Braemar ACM Shipbroking.
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