Blackstone among Close Brothers suitors

The Blackstone Group, a US private equity firm, is among several potential bidders for investment bank Close Brothers.

Close Brothers revealed on Saturday that it had received a “number of further approaches”, although it did not name potential suitors. Cenkos Securities made an offer last month that Close Brothers rejected.

According to The Times, Blackstone is competing against Japanese financial group Orix and Indian conglomerate Tata. Offers range for bids for the entire group as well as approaches for individual units.

Caledonia Investments, Close’s largest shareholders, is supportive of the board’s position regarding Cenkos, but other shareholders have been pushing for face-to-face meetings with the group.