Davy Stockbrokers, the country's largest broker that was enveloped in scandal this year, has attracted a €105m bid from global financial services provider Waystone for one part of its business, the Irish Examiner understands. The size of the bid for Davy global fund management unit is significant and puts a spotlight on Bank of Ireland, which is reportedly prepared to pay up to €500m to acquire all of Davy. Waystone's bid raises the potential of other offers from financial services players that seek to acquire parts of the broker. Waystone is a rapidly growing international provider of regulatory and support services for global fund managers. Davy Global Fund Management, the unit that Waystone has valued at €105m, is difficult to value, industry sources said.

Source: Irish Examiner July 20, 2021 17:15 UTC