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Firms say ‘now is not the right time to combine the businesses’ Private client firms Praxis IFM and Oak Group have stopped discussions on a potential merger. Oak Group used a “particularly unpredictable global economic backdrop” as one of the reasons for calling off the deal, but added that it will continue to “seek value-enhancing transactions” in the future. Stuart Platt-Ransom, chief executive at Oak, said: “This is a disappointing denouement for a period of close negotiation. “Oak will however continue to concentrate on delivering its leading client offering and services w...

Dec 15, 2020 Subscribe to our daily newsletter! Sign Up Proposed Oak-PraxisIFM merger is off. Pictured are the firm's chief executive officers Stuart Platt-Ransom and Robert Fearis. (29022413) Negotiations between PraxisFIM Group and Oak Group to bring the two businesses together have ended. The combined group would have had a headcount of more than 700 people in 17 jurisdictions – including hundreds of staff in Guernsey. On its website, Oak Group confirmed talks had ended with PraxisIFM Group confirming the news in an update to the International Stock Exchange. ‘With a particularly unpre...