Rathbones has announced the completion of its £150 million takeover of Saunderson House.

The investment manager said this morning that it had received regulatory approval for the takeover of Saunderson House’s parent CastleCo, with the initial consideration of £138.4 million now paid – including £45 million of debt – along with the issue of shares worth £5.2 million. The deal will be worth up to £150 million, including deferred consideration.

The new shares are locked up for three years from completion and contingent on continued employment of the recipients. Therefore, the value of these shares will be charg...