JPMorgan has agreed to buy out UK investment banking partner Cazenove, and will pay £1bn for the 50% of the joint venture it doesn’t own. Cazenove shareholders are to receive £5.35 per share, which includes a 25p dividend to be paid in December.

David Mayhew will remain chairman of JPMorgan Cazenove while chief executive Naguib Kheraj will oversee the integration.

• Joint statement

16 Nov 2009 -

Partner power

21 Sep 2009 -

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