Equiniti (EQN) has announced the proposed acquisition of the Wells Fargo Share Registration & Services (WFSS) business for $227m (£176m). The deal will be funded through a planned £122m rights issue and £120m from new debt facilities.
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The deal will provide Equiniti with an established platform in the US; WFSS provides share registration, corporate actions, and investment services to around 1,200 public and private US companies and processes millions of shareholder records.
