Bob Diamond, the former Barclays chief executive, has teamed up with the investment vehicle of the Qatari royal family to launch a bid for Panmure Gordon.
Today (17 March) sister newspaper the Financial Times reported Mr Diamond is making a return to the City of London with his bid for the lossmaking stock broker and investment bank.
Mr Diamond left Barclays in 2012 following the Libor rigging scandal.
Atlas Merchant Capital, the US investment firm created by Mr Diamond after he left Barclays, is teaming up with QInvest, which already owns 43 per cent of Panmure.
The two are planning to control the broker jointly and to invest in trying to restore some of its former glory.
Their offer of £1 in cash per share is a 68.1 per cent premium to the 59.5p at which Panmure’s shares closed yesterday (16 March) and values the company at £15.5m.
emma.hughes@ft.com
