Sequoia Financial gets a bid for its Morrison clearing biz

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Wealth management software business New Quantum is understood to have lobbed a bid for ASX-listed peer Sequoia Financial’s equities clearing business Morrison Securities.

New Quantum – which burst into dealmaking spotlight last year with a bid for Openmarkets

Sequoia requested a trading halt on Tuesday morning, saying it was in the final stages of negotiating a partial divestment of a subsidiary.

 

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