Business
Hub24 launches trio of takeover bids – The Australian Financial Review
Wealth platform Hub24 has initiated three separate acquisitions, including of rival Xplore Wealth, and a $60 million capital raising.
The 160-year-old broking firm was previously owned by Hub24 competitor IOOF but was sold off in mid-2019.
Finally, it will acquire new shares in listed financial planning and accounting group Easton Investments, while also divesting its Paragem subsidiary and transferring ownership to Easton.
The transaction would result in Hub24 becoming a 40 per cent shareholder in Easton, which owns prominent wealth and accounting firms Hayes Knight, GPS Wealth and Tax Banter.
The combined trio of deals will…
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