The proposed acquisition of Morgan Financial Group Holdings by Tavistock Investments PLC (AIM:TAVI) has fallen through.
Tavistock announced last month it would pay around £3.7mln for the independent financial advisory group but announced late on Thursday that the deal will no longer take place.
"The transaction is no longer in Tavistock's strategic interests and therefore will not proceed. We wish the Morgans team well with the future development of their business," said Brian Raven, Tavistock's chief executive.