By: Jessica Darnbrough
Connective has today categorically denied that it is on the verge of being acquired by another major aggregation group.
Connective Principal Murray Lees told The Adviser that recent speculation that an AFG acquisition was imminent had reached boiling point, forcing the company to clarify the situation to its members and the broader industry.
“I would like to strenuously deny the rumours. We are not in discussions with AFG about a potential acquisition and nor will we ever be,” Mr Lees said.
“It is ironic that these rumours have gained the foothold they have, when we are actively looking to acquire companies.”
AFG general manager sales and operations Mark Hewitt has also confirmed with The Adviser that there was no substance behind the acquisition conjecture.
Mr Hewitt said that the aggregator had received calls from some of their lenders in recent days asking about the impending acquisition.
“While these rumours have been around for a long time, they have seemingly gathered pace over the last few weeks. But I can honestly say that we are not looking to acquire Connective,” Mr Hewitt said.
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