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Mergers News

Collins Stewart says to buy C.E. Unterberg, Towbin

LONDON, May 21 (Reuters) - British stockbroker Collins Stewart CLST.L said on Monday it had agreed to buy U.S. investment bank C.E. Unterberg, Towbin for $31.65 million in cash and shares.

Collins Stewart said it would pay a further $9 million to repay shareholder debt and it would assume $12 million of cash and marketable securities, and $3 million of debt.

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